Company:PakuwonJatiTbkPT Brand value:US$441 million Year on year change: -3% Headquarter city:Surabaya 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. Pakuwon’s residential property consumers are upper middle class and high-income earners seeking a luxury lifestyle in prime locations.
The company’s Tunjungan City Superblock property, which includes a shopping center, condominiums, a five-star hotel and office tower. In the past year, the Sheraton Grand in Pakuwon’s Gandaria City development in South Jakarta had its soft opening.
Other recent openings include Ascott Waterplace Surabaya and Tunjungan Plaza V in Surabaya, an extension to the Tunjungan Plaza mall. Work is under way on Tunjngan Plaza VI, and on extensions to several other malls, including Supermal Pakuwon Indah in Surabaya and Kota Kasablanka Superblock in Jakarta. Pakuwon Jati has been listed on the Indonesia Stock Exchange since 1989.