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26 Pakuwon

PAKUWON

Company: Pakuwon Jati Tbk PT

Brand Value: US$533 million

Headquarters: Surabaya

Year On Year Change: 3%

Industry: Real Estate

Year Formed: 1982

Pakuwon Jati is the property developer that pioneered the superblock concept in Indonesia, integrating retail shopping malls, offices, condominiums and hotels in large-scale developments that tend to be in Surabaya, where the company was founded, and in Jakarta. The brand consolidated its position in Surabaya last year by opening Pakuwon Mall stages two and three and Tunjungan Plaza 6.  Pakuwon saw net profits rise 14 percent in 2017.  The company’s current strategy is to enlarge its land bank for future developments, and it has a reserve set aside for acquisitions. Locations that are ready to start building include TB Simatupang in South Jakarta, where there are plans for an office tower and apartments aimed at the upper-middle class, and Daan Mogot, in West Jakarta. Pakuwon has many projects due for completion in the coming two years. Pakuwon’s residential property consumers are upper middle class and high-income earners seeking a luxury lifestyle in prime locations. Developments often link high-end shopping with luxury living, hotels and office space.