PWON - PT. Pakuwon Jati Tbk

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JAKARTA - PT Pakuwon Jati Tbk (PWON) is eyeing additional landbank phase 2 in Bekasi, West Java. In the first half of 2023, this company had acquired land of over 5 hectares (Ha) in said area, allocating capital expenditure of IDR 400 billion.

Alexander Stefanus Ridwan, President Director of PWON, said the company plans to expand its landbank near Galaxy Bekasi starting next year. “In said area, we are currently building a hotel and apartment. It used to be Goro area. We won a tender, then acquired the school area and fuel station adjacent to that,” he told IDNFinancials in an interview at Gandaria8 Office earlier this week (15/8).

According to Ridwan, the land in Bekasi will be used for superblock complex, consisting of a shopping centre, apartment, and two-to-four-star hotels with a total of 384 rooms managed by JW Mariott.

For the second phase, PWON will extend the landbank in said area, investing a total of IDR 2 trillion. “We will execute this plan accordingly, as expanding landbank is not effortless (land acquisition, red). We try to gain another 3,000 m2,” Ridwan further explained.

As is known before, this company, listed as a constituent of Indeks52, has allocated capital expenditure of IDR 2.4 trillion this year. Until the first half of 2023, PWON, recording market capitalisation of IDR 22.73 trillion, had used up IDR 765 billion of its capital expenditure. (LK/ZH)