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Confidential Pakuwon Jati Pakuwon Jati Surabaya Investor –Meeting Results Presentation 9M 2023and Connectivity October 11, 2024
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Disclaimer
By attending this presentation, you are agreeing to be bound by the restrictions set out below. Any failure to comply with these restrictions may constitute a violation
of applicable securities laws.
The information and opinions contained in this presentation are intended solely for your personal reference and are strictly confidential. The information and opinions
contained in this presentation have not been independently verified, and no representation or warranty, expressed or implied, is made as to, and no reliance should be
placed on the fairness, accuracy, completeness or correctness of, the information or opinions contained herein. It is not the intention to provide, and you may not rely on
this presentation as providing, a complete or comprehensive analysis of the condition (financial or other), earnings, business affairs, business prospects, properties or
results of operations of the company or its subsidiaries. The information and opinions contained in this presentation are provided as at the date of this presentation and
are subject to change without notice. The company (including any of its affiliates, advisors and representatives) shall have any responsibility or liability whatsoever (in
negligence or otherwise) for the accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein nor for any loss howsoever
arising from any use of this presentation.
In addition, the information contained in this presentation contains projections and forward-looking statements that reflect the company's current views with respect to
future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and
competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the company and its
directors. No assurance can be given that future events will occur, that projections will be achieved, or that the company's assumptions are correct. Actual results may
differ materially from those forecast and projected.
This presentation is not and does not constitute or form part of any offer, invitation or recommendation to purchase or subscribe for any securities and no part of it shall
form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto. This presentation may not be used or relied
upon by any other party, or for any other purpose, and may not be reproduced, disseminated or quoted without the prior written consent of the company.
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Table of contents
Section 1 Achievement Highlights 3
Section 2 Projects Development 14
Section 3 Financial Highlights 24
Section 4 Sustainability Achievements 30
Section 5 Strategy Going Forward 37
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Section 1 Section 1 Achievement Highlights
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Achievement highlights in 1H2024
Financial Rating Upgrade
✓ 1H2024 revenue of Rp 3.3tn (c.US$198.6m), ✓ Moody’s upgraded from Ba2 to Ba 1
recorded double-digit growth of revenue. outlook stable in March 2024
✓ 1H2024 EBITDA of Rp 1.8tn (c.US$108.9m), with ✓ Fitch upgraded from BB to BB+ outlook
a resilient EBITDA margin of 55%. Supported by stable in May 2024
77% of EBITDA recurring. ✓ Current credit ratings are : Ba1 stable
✓ Consistently generating high profit with net (Moody's) / BB+ stable (S&P) / BB+
income margin at 41% 1 stable (Fitch)
Project Update Sustainability
✓ Groundbreaking of Clayson and ✓ Pakuwon Center and Pakuwon Tower at
Lancaster Tower in February Tunjungan City Superblock have
2024 at Superblock Pakuwon recently been awarded gold certification
Mall Surabaya. from the Green Building Council
✓ Topping off Amor Tower in April Indonesia, while Mall Kota Kasablanka
2024 at Pakuwon City Bekasi has achieved Edge certification.
Topping off Amor Tower – Pakuwon City Bekasi
✓ With the aforementioned awards,
PWON’s total green building area is
Notes:
18.2% of total GFA 2
1. Adjusted for forex loss Rp 297.8bn (c.US$ 18.1m)
2. GFA = Gross Floor Area
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Recurring operation highlights
Recurring revenue contributed 75% of total revenue in 1H2024
Recurring Revenue
10% 16% 2%
2,209 2,450
Pakuwon Mall Jogja
Revenue 1H 23 Retail Leasing Hotel & Service Office Leasing Revenue 1H 24
Apartment
A brief explanation of the growth:
- Retail leasing grew 10% due to an increase in average rental revenue
- Hotel & service apartments grew 16% due to high ADR and F&B income
from the MICE and social events.
- Office leasing grew 2 % due to higher occupancy.
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Retail: High quality mall portfolio
Minimum lease termination keeping PWON malls highly occupied with prominent tenants
Historical Occupancy Lease Expiry Profile (NLA breakdown)
O c c upanc y 2019 2020 2021 2022 2023 9M 2024
Kota Kasablanka Mall (116k sqm) 99% 99% 99% 100% 99% 100%
Jak ar ta
As %
5% 3% 19% 17% 17% 39%
Gandaria City Mall (100k sqm) 98% 92% 90% 96% 95% 96% of total
Blok M Plaza (31k sqm) 97% 93% 88% 92% 92% 95% 300,000
Tunjungan Plaza (149k sqm) 96% 93% 91% 94% 92% 95% 250,000
90%1
Su r ab ay a
Pakuwon Mall (156k sqm) 96% 89% 94% 94% 93% 200,000
Pakuwon Trade Center (46k sqm5 ) 92% 88% 87% 90% 92% 94% 150,000
Royal Plaza (53k sqm6 ) 94% 91%2 90% 95% 96% 96% 100,000
3
Pakuwon City Mall (31k sqm ) – 74% 74% 80% 76% 82% 50,000
Cen tr al
4 7 7
Pakuwon Mall Yogyakarta (70k sqm ) – 88% 65% 90% 91% 94%
Jav a
0
Vacant 2024 2025 2026 2027 2028
4 7 7 7
Pakuwon Mall Solo Baru (33k sqm ) – 97% 89% 83% 90% 95% Onwards
Kota Kasablanka Mall Gandaria City Mall
Notes: Tunjungan Plaza Pakuwon Mall
1 Excludes Pakuwon Mall 4 opened on 28 February 2020 Pakuwon Trade Center Royal Plaza
2 Includes finished refurbished floor, opened on 9 October 2020 Blok M Plaza Pakuwon Mall Yogyakarta
3 Pakuwon City Mall opened on 20 November 2020 Pakuwon Mall Solo Baru Pakuwon City Mall
4 Acquired on 25 November 2020
5 Pakuwon Trade Center NLA excludes sold area of 5,467 sqm
6 Royal Plaza NLA excludes sold area of 15,226 sqm
7 Under refurbishment
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Retail: Well-diversified tenant base
Diverse and attractive tenants supporting PWON malls as lifestyle destination
Retail mall tenant base breakdown by leased area (%) Our reputable tenants :
1
El ectronics Others
2.1% 1.6%
Hea lth a nd beauty
4.4%
Fa s hion retail
Servi ce 20.3%
11.8%
Supermarket
6.6% Department s tores
15.5%
Hous eware a nd home
furni shing
9.7%
Entertainment a nd
l eisure Food a nd beverage
12.1% 15.9%
Note:
1 Includes storage, management office, promotion areas and others 7
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Office operational highlights
Integrated concept within the superblock to best support work-life balance
Occupancy 2019 2020 2021 2022 2023 9M 2024
Kota Kasablanka Office 88 (57k sqm) 95% 92% 93% 91% 93% 95%
Prudential Center (32k sqm) 89% 87% 70% 73% 79% 84%
Jakarta
Pakuwon Tower Jakarta (80k sqm) 13% 49% 47% 50% 53% 28%
Gandaria 8 (58k sqm) 99% 99% 99% 97% 99% 99%
Surabaya
Pakuwon Center Surabaya (20k sqm) 84% 81% 75% 78% 79% 78%
Pakuwon Tower Surabaya (41k sqm) 34% 35% 45% 45% 63% 65%
Major office tenants:
Pakuwon Tower Jakarta
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Hotel operational highlights
Leading brands in hospitality driving the Revpar high
Revpar (Rp '0 0 0 /room/day) 2019 2020 2021 2022 2 0 2 3 9 M 2 0 2 4 9 M 2 0 2 3 % Chg
Jakar ta
Somerset Berlian 680 400 415 530 589 632 580 9%
Sheraton Grand Jakarta 1,000 269 443 917 1,101 1,171 1,059 11%
Sheraton Surabaya 651 293 347 619 737 745 698 7%
Four Points Tunjungan City 659 184 329 594 757 796 724 10%
Sur abaya
Four Points Pakuwon Indah 202 156 283 585 789 880 756 16%
The Westin – 866 438 859 1,078 1,238 1,039 19% The Westin
Ascott Waterplace 785 489 550 722 747 818 726 13%
Centr al
Java
Marriott Yogyakarta1 – 274 360 749 901 903 823 10%
Bali
Four Points Bali, Kuta2 – – – – 661 854 622 37%
Hotel brands:
Notes:
1 Acquired on 25 November 2020
Ascott Waterplace
2 Acquired on 10 March 2023
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Residential Pre-Sales
(Rp bn) Total pre-sales in 9M 2024 were Rp 1,127bn, which was supported by government incentives
1,800
Highrise
GSA Progress Handover
1,600 1,503 1,500 1 2 Landed Superblock / Township Project name Segment % Sold
1,434 12
(sqm) update Schedule
1,400 1,342 2
1,200 1,127
2 Angelo Condo 36.9k 96% Completed 2018
1 2
1,026 683 741 1,021
1,000 Kota Kasablanka Bella Condo 36.8k 97% Completed 2018
1,113
878 Chianti Condo 47.3k 99% Completed 2019
800 602
642 632 Pakuwon Tower Office 47.4k 14%3 Completed 2019
600
Amor Condo 24.1k 84% Topping Off 2024
400 751 759
Pakuwon Mall Bekasi
Bella Condo 25.9k 16% Structure works 2027
464 525
200 390 384 389 Dolce Vista Condo 24.0k 5% Structure works 2027
0
Pakuwon Center Office 10.4k 97%3 Completed 2018
2020
2023
2019
2021
2022
9M 2024
9M 2023
(Rp bn) Tunjungan City One Icon Condo 57.8k 82% Completed 2018
Vat Incentives Pakuwon Tower Office 27.7k 44%3 Completed 2019
/Total 83% 47% 18% 64%
1,700 Amor Condo 48.5k 99% Completed 2021
1,500 1,434
1,500 Pakuwon City
1,342 Bella Condo 31.2k 46% Topping Off 2024
1,300
243 1,127
1,100 701 Anderson Condo 57.1k 96% Completed 2018
900
Benson Condo 53.7k 99% Completed 2020
1,192
700
716 Pakuwon Mall La Viz Condo 32.2k 95% Completed 2021
500 1,099 Clayson Condo 57.5k 15% Foundation 2027
798
300 Lancaster Condo 33.8k 22% Foundation 2027
411
100 241 Source: Company data as of Sept 30, 2024
Notes:
-100 2021 2022 2023 9M 2024 1 Social restriction (PSBB&PPKM)
2 VAT incentives from the regulatory
VAT Incentive
3 As % of saleable area, excluding approximately 50–60% of the area set aside for lease
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Grand Pakuwon Township
Location: West Surabaya
Launch: 2013
Landbank: 150.9ha
Market Segment: Middle to middle-high
House Price Range: Rp908m to Rp6.2bn
Average Unit Price: Rp2.3bn
Others: Latest cluster Gladstone
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Pakuwon City Township
Location: East Surabaya
Launch: 1994
Landbank: 235.4 ha
Market Segment: Middle to middle-high
House Price Range: Rp1.7bn to Rp10.7bn
Average Unit Price: Rp3.8bn
Others: Latest cluster Aruba Villa
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Mortgage strongly supported presales
Presales per Payment Method Presales per Unit Price
6% 5% 8% 7% 12%
27% 31% 26% 27%
43%
42% 40%
52%
64% 70%
35%
56% 49% 54%
34% 18%
24%
33% 21%
23% 30% 25% 32% 16% 24%
17% 20% 16%
8% 4%
2020 2021 2022 2023 9M 24 2020 2021 2022 2023 9M 24
Cash Mortgage Installment <IDR 1 bn/unit IDR 1-2 bn/unit IDR 2-5 bn/unit >IDR 5 bn/unit
Attractive interest rate and easier approval by Banks supported Presales were strongly driven by lower-middle to upper-
the high proportion of sales with mortgage middle income acquiring units from Rp2bn to Rp5bn
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Section 2 Section 1 Projects Development
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Organic assets growth
Continue expanding organically to bolster income growth
Retail Leasing NLA Growth (sqm) Hotel Room Growth (rooms)
10% 2% 2%
11%
5% 12% 13%
2% 5% 24%
11%
25%
17%
1,080K 12%
4,840
783K +38%
+113%
2,273
Current PCM Bekasi Kota Semarang Batam IKN Gandaria Plan 2029 Current PCM Bekasi Kota Semarang Batam PM IKN Plan 2030
NLA Kasablanka Rooms Kasablanka
Office Leasing NLA Growth (sqm)
11%
155k +11% 172k
Current NLA Gandaria Office 2 Plan 2030 15
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Current Development – Bekasi Superblock
Type: Mixed use
Total Land size: 3.6 ha
Land size Phase 1: 2.7 ha
Project value: IDR 2.6tn
Retail: 43K sqm NLA, open in
Nov 2024
Hotel: 4* hotel, 384 rooms,
open in 2025
Residential: 100K sqm GSA
Target completion: 2024-2027 16
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Existing Expansion – Pakuwon City Mall (Phase 3)
Type: Mixed use
Land size: 1.1 ha
Project value: IDR 1.2tn
Retail: 15K sqm NLA, open in
Oct 2024
Hotel: 4*, 216 rooms open in
2026
Residential: 52K sqm GSA
Target completion: 2024 -2026 17
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Existing Expansion – Kota Kasablanka (Phase 4)
Type: Mixed use
Land size: 3.3 ha
Project value: IDR 3.7tn
Retail: 56K sqm NLA
Hotel: 5*, 560 rooms
Residential: 116K sqm GSA
Target Completion: 2028-2029
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Existing Expansion – Gandaria City (Phase 2)
Type: Mixed use
Land size: 1.1 ha
Project value: IDR 2.5tn
Retail: 12K sqm NLA
Office: 35K sqm GSA
Residential: 62K sqm GSA
Target completion: 2028-2030
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Existing Expansion – Pakuwon Mall (Phase 5)
Type: Mixed use
Land size: 2.8 ha
Project value: IDR 2tn
Hotel: 266 rooms
Residential: 141K sqm GSA
Target completion: 2027-2029
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Future Development – IKN (Phase 1)
Type: Mixed use
Total Land size: 7.2 ha
Land size phase 1: 1.9 ha
Project value: IDR 651bn
Retail: 16K sqm NLA
Hotel: 4*, 295 rooms
Target completion: 2026-2027 21
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Future Development – Semarang (Phase 1)
Type: Mixed use
Total Land size: 22.7 ha
Land size phase 1: 12.7 ha
Project value: IDR 3.1tn
Retail: 90K sqm NLA
Hotel: 5*, 260 rooms
Residential: 103K sqm GSA
Target completion: 2028-2030 22
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Future Development – Batam (Phase 1)
Type: Mixed use
Total Land size: 12.4 ha
Land size phase 1: 7.3 ha
Project value: IDR 4.1tn
Retail: 78K sqm NLA
Hotel: 4* and 5*, 536 rooms
Residential: 126K sqm GSA
Target completion: 2029-2031 23
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Section 3 Section 1 Financial Highlights
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Results summary
(Rp bn unless otherwise stated) 1H 2024 1H 2023 % Growth Comments
Revenue 3,261 2,897 13%
Recurring revenue 2,450 2,209 11% Increased primarily due to rental revenue
Development revenue 811 688 18% Increased primarily due to condominium recognition
Gross Profit 1,847 1,618 14%
Gross Profit Margin(%) 56.6% 55.9%
EBITDA 1,789 1,622 10%
EBITDA Margin (%) 54.9% 56.0%
Net Income for the Period1 1,346 1,029 31%
Net Income Margin (%) 41.3% 35.5%
Net Income Attributable to Owners1 1,144 888 29%
Net Income Margin(%) 35.1% 30.6%
Earning Per Share 1 (in Full Rupiah)
Basic 23.76 18.43 29%
Notes:
1 Adjusted for forex gain (loss) of (Rp298bn) in 1H 2024 and Rp211bn in 1H 2023
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Well-diversified portfolio
Development and investment properties diversified across multiple segments and target customers provide income stability
Revenue breakdown by project
Revenue breakdown by segment
Central Bali
0.6 1.1
100
Java
6.5 7.4
100 2.6
Development
1.5 1.7 Bali
10.9 Office sales 1.6
14.0 8.9 6.0 Central Java
80
80 7.2 12.5 Landed houses 7.9 9.2 Royal Plaza
Surabaya
5.3 4.8 Grand Pakuwon
Condo sales 18.9 17.6 Pakuwon City
(% )
60 18.0 18.7 60
(% )
Tunjungan City
Office leasing
18.6 Pakuwon Mall
19.8
Recurring
Hotel & Serviced 40
Somerset
40 0.4 0.6
Apartments 2.3 2.3 Blok M Plaza
Retail leasing Gandaria City
52.9 51.7 14.1 13.7
Jakarta
20 20 Kota Kasablanka
Office sales
20.1 20.7
0 0
1H 2023 1H 2024 1H 2023 1H 2024
• Strength of diversification strategy proven • Surabaya: highest proportion of revenue from Pakuwon Mall
• PWON continues to expand its Recurring portfolio to enhance stability • Jakarta: highest proportion of revenue from Kota Kasablanka
• Contribution of recurring income continues to be driven by Retail Leasing
and hotels
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Strong growth & delivering consistent profitability
Revenue (Rp bn) Gross Profit (Rp bn)
56.3% 56.6%
55.9%
54.8%
53.8%
3,509 1,531 48.4%
2,118
3,016 48.8%
+12.6% +14.1%
1,677 811
4,669 688
3,693 3,870
2,300 2,698 2,209 2,450
4,058 1,941 2,764 3,219 3,401 1,618 1,847
2019 2020 2021 2022 2023 1H2023 1H2024 2019 2020 2021 2022 2023 1H2023 1H2024
Recurring Development Gross profit %GPM
EBITDA (Rp bn) Adjusted Net Income (Rp bn)
1
56.0% 43.2%
54.9%
41.3%
54.9% 37.0%
54.6% 54.2% 37.2% 35.5%
51.0% 29.5% 27.8%
51.6%
+10.3% +30.7%
3,593 2,051 2,916 3,271 3,362 1,622 1,789 3,110 1,175 1,588 2,226 2,295 1,029 1,346
2019 2020 2021 2022 2023 1H2023 1H2024 2019 2020 2021 2022 2023 1H2023 1H2024
Notes:
Ebitda %EBITDA Adjusted Net Income %Adjusted Net Income 27
1. Adjusted for forex gains / (losses) of Rp 130bn, (56bn), (38bn), (395bn), 87bn, 211bn and (297bn) in 2019, 2020, 2021, 2022, 2023, 1H2023 and 1H2024
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Strong financial position and prudent balance sheet
Ample of cash and cash equivalents to support existing, future and opportunistic land and operating assets
(Rp bn unless otherwise stated) 1H 2024 FY 2023 Growth Comments
Cash and Cash Equivalents 8,914 7,600 7.45% Increased mainly from retail leasing cash inflow
Total Assets 34,243 32,711 2.18% Increased from cash and cash equivalents and inventory
Total Equity 23,351 22,795 1.59% Increased in net income
Total Debt 6,568 6,166 2.88% Weaken IDR from Rp 15,416/1 USD to Rp 16,421/1 USD
Debt to Equity Ratio 28.13% 27.05%
Net Debt to Equity Ratio -10.04% -6.29%
Debt to Assets Ratio 19.18% 18.85%
Net Debt to Assets Ratio -6.85% -4.38%
2,718 852
(Rp bn)
(Rp bn)
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Debt maturity profile (Rp Bn)
Healthy debt profile with average debt maturity of 3.63 years and average cost of debt 5.44% p.a. 1
0% 0% 0% 0% 0% 100%
7,000
6,000
5,000
4,000
3,000 6,055
2,000
1,000
0
3Q 2024 4Q 2024 2025 2026 2027 2028
Senior Unsecured Notes 2028 of US$ 400m (US$ 378m-hedged, approx US$ 22m in USD Deposit)
US$ 125m Lower-upper Strike : Rp15,000-Rp16,500
Notes: US$ 125m Lower-upper Strike : Rp15,500-Rp17,000
1 Interest cost of 5.44% (including hedging premium)
US$ 64m Lower-upper Strike : Rp16,000-Rp17,500
US$ 64m Lower-upper Strike : Rp16,000-Rp18,000 29
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Section 4 Section 1 Sustainability Achievement
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PWON Sustainability - Emissions
Expanded reporting coverage. Improved energy efficiency. Growth in renewable energy
250,000 -5%
4%
Emissions 2023 tCO2e 2022 tCO2e Year-over-Year 200,000
150,000
Direct Scope 1 18,964 23,777 -20%
100,000
-20%
Indirect Scope 2 206,744 198,409 4% 50,000
-
Scope 1 Scope 2 Scope 3
Indirect Scope 3 213,796 225,198 -5%
2022 tCO2e 2023 tCO2e
Total 439,504 447,384 -2%
in tCO2e
447,384 439,504
*Total Area (m2) Emission Intensity (tCO2e/m2*)
0.13
0.12497948
2022 3,579,660 0.125
2023 3,674,305 0.119615631
0.12
0.115
Emission intensity 2022 2023
2022 2023 scope 1 scope 2 scope 3
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PWON’s Sustainability – Solar Panel
Solar Panel Installation
1,719 PLTS Tunjungan Plaza PLTS Gandaria City
1,563
649
297
Cummulative instl'd Annual CO2
capacity (kWp) avoidance (tCO2e)
2023 2024
PLTS Pakuwon Mall
PLTS Royal Plaza
Yogya 32
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PWON’s Sustainability – Green Building
TOTAL AREA GREEN BUILDING TO TOTAL
AREA (GFA) in ‘000
Total area Green Building GFA Total area
8.30% 18.20%
2.80%
3,674
3,580 3,674
99 304 670
Green Building Certification
2022 2023 2024
GREEN BUILDING GFA (in sqm)
Office Prudential Tower Office 88 Kasablanka
Office Pakuwon Tower Jakarta Office Gandaria Height
400,000
Office Pakuwon Center Surabaya Office Pakuwon Tower Surabaya
Mall Kota Kasablanka
200,000
-
2022 2023 2024
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PWON’s Sustainability – Water & Waste
Water Recycle Waste diverted from landfill
In m3 In Ton
800
600
1,152,593 1,179,220
400 670
200 0
2022 2023 0
2022 2023
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Sustainability Achievements
Saving Initiatives Achievements in 2023
Replacement of Installment of Installment of Added Crawling
Solar Panel
LED Lamps VSD CO2 Sensors Speed Escalator
Saving Value Saving Value Saving Value Saving Value Saving Value
707.752 678.985 124.567 24.192 371.649
kWh kWh kWh kWh kWh
Installment of Air Inventer
Chiller Efficiency Installment of Lift Additional of
Recycle Cooling Installment of AHU
Pump Sensors FCU Trafo
Tower
Saving Value Saving Value Saving Value Saving Value Saving Value
240.000 356.590 126.600 103.960 -
kWh kWh kWh kWh kWh
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Sustainability Achievements
Target Saving Initiatives in 2024
Replacement of Installment of VSD Added Crawling Inventer
Solar Panel Chiller Efficiency
LED Lamps Speed Escalator Installment
Saving Value Saving Value Saving Value Saving Value Saving Value Saving Value
306.090 118.800 27.145 1.387.333 1.304.958 424.634
kWh kWh kWh kWh kWh kWh
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Section 5 Section 1 Strategy Going Forward
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Winning business strategy
✓ Continue to build strong recurring cashflows as leverage for further expansion
✓ Enhance development pre-sales to complement recurring income
1
Well diversified income ✓ Continue to construct, own, and manage high quality, complementary retail, office and hotel properties which can deliver attractive
stream rental yields and stable recurring income over the long-term
✓ Build on the proven and successful superblock concept – leveraging synergies between all segments
‒ Iconic malls and other amenities serve as demand drivers for condominium, office and hotel projects
2 Strength in ‒ Condominiums, offices and hotels provide natural catchment for malls, both night and day
superblock development
✓ Leverage synergies and economies of scale within superblocks to drive operational efficiencies and higher margins
✓ Take advantage of strong balance sheet to opportunistically acquire investment properties or land bank at attractive prices
3 ✓ Acquire large plots of land only if there are concrete development plans for the land
Disciplined acquisitions and
land banking strategy
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Geographically diversified portfolio
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Sufficient land bank for >10 years of development
Disciplined land banking strategy to sustain growth and high margins; further land banking purely opportunistic and
discretionary
Land bank summary Land bank breakdown by location
Land under East Java
Additional land Total land Batam Jakarta
Location Project development 4%
bank (ha) bank (ha) 2% 5%
(ha)
Kota Kasablanka - 3.8 3.8
South Jakarta Gandaria City - 2.0 2.0
Simatupang land bank - 4.5 4.5
West Jakarta Daan Mogot land bank - 11.0 11.0
Greater Jakarta Bekasi land bank 2.7 0.9 3.6
Central Surabaya Tunjungan City - 2.1 2.1
Pakuwon City Township 1.1 250.3 251.3
East Surabaya
Outside Pakuwon City
Grand Pakuwon Township
-
-
21.5
158.1
21.5
158.1
500.7 ha
land bank
Pakuwon Mall 2.8 - 2.8
West Surabaya
Royal Plaza - 0.1 0.1
Outside Grand Pakuwon - 8.6 8.6
Batam Batam - 12.4 12.4 East Surabaya
55%
Semarang - 18.2 18.2 West and Central
East Java
Yogyakarta - 0.6 0.6 Surabaya
Total Land Bank 500.7 34%
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Thank You!
Investor Relations
Surabaya Office: Jakarta Office:
Pakuwon City Mall, 5th Floor Gandaria 8 Office Tower 32nd Floor
Jl. Kejawan Putih Mutiara No. 17 Jl. Sultan Iskandar Muda 5 No. 8
Pakuwon City Surabaya 60112, Indonesia Jakarta Selatan 12240, Indonesia
Tel: +6231 – 9921 8800 Tel: +6221 – 2900 8000
Email: investorrelations@pakuwon.com
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Appendix Section 1 Supporting Asset Details
Page 44
Portfolio overview – Jakarta
Kota Kasablanka Gandaria City Bekasi Project Somerset Berlian Blok M Plaza
Description Superblock Superblock Superblock Serviced apartment Retail mall
• 12.9ha located right next to Jakarta’s • 3rd largest superblock in South Jakarta • 3.6 ha located at West Bekasi Contains the • Serviced apartment situated in the exclusive • Mid-market retail mall in South Jakarta’s
Golden Triangle mall, 4 condominiums, and 2 brand of Hotels residential area of South Jakarta and a short commercial district. Situated along the main
• Located on a 9.3ha lot along a main
drive from the financial center thoroughfare connecting South Jakarta and
• Contains the largest mall in South Jakarta, thoroughfare linking South Jakarta to • 400m walking distance to LRT Terminal
the central business district
opened on July 28, 2012 West Jakarta which operates in August 2023 • Managed by The Ascott Limited under the
"Somerset" brand • MRT terminal connected directly into the
Mall in March 2019
Residential • 4 condos, 1,077 units, GSA: 96k sqm • 2 condos, 118k sqm • 1 condominium, 726 unit GSA : 24k sqm
• 3 additional condos, GSA: 121k sqm • 1 condos GSA: 73k sqm • 3 condominiums, 1.898 unit GSA: 75k sqm
• Phase 4 condo, GSA: 111k sqm
Office • Tower A GSA: 36k sqm • Tower A GSA: 37k sqm
(for sale) • Tower C GSA: 32k sqm • GSA : 17.5k sqm
Retail • Middle to upper market mall NLA: 116k sqm • Middle to upper market mall NLA: 100k sqm • NLA: 43k sqm • NLA: 30k sqm
• NLA : 42k sqm • NLA : 12k sqm
Office • Tower A NLA: 21k sqm • Tower A NLA: 21k sqm
(for lease) • Tower B NLA: 32k sqm • NLA : 17.5k sqm
• Tower C NLA: 48k sqm
Hospitality • Marriott, 320 rooms, 5-star hotel • Grand Sheraton, 293 rooms, 5-star hotel • Four Points, 252 rooms, 4-star hotel • Somerset, 104 serviced apartment units1
• Jakarta Edition, 240 rooms, 5-star hotel • Fairfield, 132 rooms, 4-star hotel
Location
Notes: 1. 4 out of 104 units have been sold to 3rd party investors, who in turn receive 5% of all net
Projects in red are currently under construction or targeted to start construction within the next 2 years, and are based income generated by the Somerset Berlian 43
on estimates. GSA/NLA and number of units/rooms are estimates. NLA : Net Leasable Area, GSA: Gross Saleable Area
Page 45
Portfolio overview – Surabaya
Tunjungan City Pakuwon Mall Grand Pakuwon Pakuwon City Royal Plaza
Description Superblock Superblock Township Superblock & Township Retail mall
• 8.8ha located in prime central precinct • 16.9ha located in affluent neighborhood • Self contained city in West Surabaya • Self-contained city in East Surabaya • Mid-market strata retail mall 78% owned
and managed by a subsidiary of PP
• PWON’s first development in 1986, • Has a mid-market retail mall, Pakuwon Mall • Consisting of residential area and a future • Consisting of a residential area, commercial
expanded in phases and a strata retail mall commercial area area, and an education park • Situated along one of Surabaya’s main
thoroughfares easily accessible
• Developing Phase 5 and 6 with premium • Developing Phase 3, 4 and 5 with premium
from nearby toll roads and public transport
retail, office, and residential towers leased retail, residential condos and hotels
Residential • TP5 GSA: 30k sqm • Phase 2: two towers GSA: 60k sqm • House and land lot community • House and land lot community
• TP6 GSA: 58k sqm • Phase 3: one tower GSA: 41k sqm • 4 Educity condos GSA:103k sqm3
• Phase 4 : three tower GSA : 143k sqm • ECM Phase 2 : one tower GSA : 48k sqm
• Phase 5: three tower GSA : 141k sqm • ECM Phase 3 : one tower GSA 33k sqm
one tower GSA 19k sqm
Office • TP5 GSA: 10.5k sqm • Shophouses, university, schools, and
(for sale) • TP6 GSA: 28k sqm a hospital
Retail • NLA: 149k sqm • PM NLA: 155k sqm • Phase 1+2 NLA: 31k sqm • NLA: 53k2 sqm
• PTC NLA: 46k1 sqm • PCM Phase 3 NLA: 15k sqm
Office • TP5 NLA: 9k sqm
(for lease) • TP6 NLA: 14k sqm
Hospitality • Sheraton, 359 rooms, 5-star hotel • Four Points, 317 rooms, 4-star hotel • Aloft Surabaya, 216 rooms, 4-star Hotel
• Four Points, 293 rooms, 4-star hotel • The Westin, 204 rooms, 5-star hotel
• Ascott, 182 serviced apartment units
• Aloft, 266 rooms, 5-star hotel
Location
Notes: 1. Pakuwon Trade Center (“PTC”) NLA excludes sold area of 5,467 sqm
Projects in red are currently under construction or targeted to start construction within the next 2 years, and are based 2. Royal Plaza NLA excludes sold area of 15,226 sqm
on estimates. GSA/NLA and number of units/rooms are estimates. NLA : Net Leasable Area, GSA: Gross Saleable Area 44
3. Remaining 15 planned condo developments
Page 46
Portfolio overview – Central Java
Pakuwon Mall Jogja Yogyakarta Marriott Hotel Pakuwon Mall Solo Baru Semarang
Retail Mall Hotel Retail Mall Superblock
Description • Middle-upper retail market in Yogyakarta, • Marriott hotel in Yogyakarta • Mid-market retail mall in Solo commercial • 18.2ha located in upper Semarang, in
the largest shopping mall in Central Java district the midst of middle upper class
• Located directly adjacent to Pakuwon Mall
and Yogyakarta Jogja residential area
• 25 minutes away from city center
with sprawling golf course
Residential • 4 condos, 2460 units, 103k sqm
Office
(for sale)
Retail • NLA : 70k sqm • NLA : 32k sqm • NLA : 90k sqm
Office
(for lease)
Hospitality • Marriott, 347 rooms, 5-star hotel • 1 hotel with 260 rooms
Location
Notes:
Projects in red are currently under construction or targeted to start construction within the next 2 years, and are based 45
on estimates. GSA/NLA and number of units/rooms are estimates. NLA : Net Leasable Area, GSA: Gross Saleable Area
Page 47
Portfolio overview – Bali
Four Points by Sheraton Bali, Kuta Asset pictures Four Points by Sheraton Bali, Kuta
Description • Located in the heart of the Legian-
Kuta region
• Only seven kilometers from Bali
Ngurah Rai International Airport.
Residential
Office
(for sale)
Retail
Office
(for lease)
Hospitality • Four Points, 185 rooms, 4-star hotel
Location
46
Page 48
Portfolio overview – Other cities
Batam IKN Artist Rendering - IKN
Superblock Superblock
Description • 12.4ha in the city center of Batam, 5 • 7.2ha in front of the civic plaza and
minutes from Nagoya Hills next to the palace
Residential • 3 towers GSA: 126K sqm
Office
(for sale)
Retail • NLA : 78K sqm • NLA : 16K sqm
Office
(for lease)
Hospitality • 2 stacked hotels with a total 536 • 1 hotel with 295 rooms
rooms
Location
47
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Ascott Limited
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