In 1982, where most people ventured into the capital city, Jakarta, to establish their business, Mr. Alexander and Mrs. Melinda Tedja decided to take a different path. On 20 September 1982, they established PT Pakuwon Jati in Surabaya. The first piece of land strategically nestled in Jalan Basuki Rahmat was initially planned to be a cinema.
However, the plan soon changed into a shopping center with the Australian architect Peddle, Thorp & Walker appointed to collaborate with local architects to design the concept for this development. This marked the beginning of Pakuwon Group first shopping centre project, Tunjungan Plaza.
Finally in 1986, Tunjungan Plaza was officially opened. Being the pioneer of modern air-conditioned shopping center in Surabaya that stays open until 10 pm, the newly opened shopping center successfully changed consumer behavior. It transformed shopping from being an errand people dread to do to become an enjoyable trip for leisure. It is a compulsory destination in Surabaya, no visit to Surabaya is complete without a visit to the famous Tunjungan Plaza. Tunjungan Plaza continued to grow and thrive until Tunjungan Plaza VI.
The founders were aware of Pakuwon Group’s tremendous potential for expansion. Then, in 1989, with confidence in its stability and viable financial performance, PT Pakuwon Jati Tbk. was listed as the first property developer on the IDX, under the stock code PWON. For 40 years, PWON has been well-known for its stability and consistent financial performance.
In 1990, Pakuwon Group marked its presence in the capital of Indonesia, Jakarta, the city of a million dreams after successfully opening Blok M Plaza in South Jakarta. The rapid development and advanced lifestyle of the region were not to be left untapped. Blok M Plaza is the only shopping center with direct MRT access, offering young and active millennial lifestyle.
Everyone dreams of building a family in a good home with a pleasant environment. Thus, in 1994 the concept of a Township Estate was born through the development of Pakuwon City Township (né Laguna Indah) in East Surabaya. This was followed by Pakuwon Indah Township which was established in 1995, and Grand Pakuwon Township in 2014 in West Surabaya. All estates managed by Pakuwon Group are designed with the welfare of their residents in mind. This includes international standard facilities and ample outdoor activity areas for all residents.
Pakuwon Group aimed to increase the value of their shopping centers for the benefit of their stakeholders. Therefore in 1996, Pakuwon Group built the Kondominium Regensi adjacent to Tunjungan Plaza. This was a remarkable concept considering it did not only increase the value of the land and building but also catered to the emerging dynamic lifestyle of young people. To date, Pakuwon Group has established more than 30 apartment buildings in Jakarta and Surabaya.
Pakuwon Group understands that comfort should be present everywhere, even far away from home. Towards the end of 1996, Sheraton Surabaya Hotel & Towers was the first hotel chain built in collaboration with Marriott International which continues to prosper to this day. Until now, eight prestigious hospitality chains are serving esteemed guests in Jakarta, Surabaya, and Yogyakarta.
The opening of Sheraton Surabaya has validated Pakuwon Group as the pioneer of superblock concept in Indonesia with a mixed-use component of shopping center, apartment, hotel and office building named Tunjungan City Superblock. Pakuwon Group continues to bring this concept to future projects with the development of Gandaria City Superblock, Kota Kasablanka Superblock, Pakuwon Mall Superblock and Pakuwon Mall Bekasi Superblock.
In 2010, Pakuwon Group established Gandaria 8, the first Green Mark certified office building in Indonesia. Located in Gandaria City Jakarta, the office tower is equipped with an advanced security system, a private elevator for senior management, direct access to the mall, and completed with first-class facilities. To this day, Pakuwon Group has 6 office towers in Surabaya and Jakarta.
As the business continues to grow, by 2020, Pakuwon Group acquired Pakuwon Mall Solo Baru, Pakuwon Mall Jogja and Yogyakarta Marriott Hotel. These major cities in Central Java offer cultural heritage with tremendous tourism potential. Pakuwon Group believes these bring new business opportunities different from those in Surabaya and Jakarta.
With countless blessings, unyielding commitment, and clear vision, the Tedjas have sailed a magnificent 40-year journey. Growth and development have been relentlessly implemented in alignment with the vision of Mr. Alexander and Mrs. Melinda Tedja. As the business thrives, the next generation of leaders have embarked on the same journey: Mr. Eiffel Tedja – Director; Mrs. Imelda Tedja – Key Person; and Mr. Leon Tedja – Key Person.
The presence of these young leaders has brought a new spirit and brighter vision which will ensure that the grand legacy of Pakuwon Group will be preserved for the future.