Pakuwon Group Officially Opened Pakuwon City Mall 3 In Surabaya

Saturday, 26 Oct 2024

By ridwan@insightinnews.com

Pakuwon Group announced the opening of Pakuwon City Mall 3, an expansion of the existing Pakuwon City Mall 1 and 2, previously known as the “East Coast Center.”

Spanning an area of 20,500 m², Pakuwon City Mall 3 brings the total area of Pakuwon City Mall to 50,000 m², achieving an occupancy rate of 90%. This new mall introduces a lifestyle-oriented concept, featuring tenants such as Playtopia Adventure (the largest playground in Surabaya), Miniso Pink, Corkcicle, and Munch Club by Urban Wagyu, thereby enhancing the shopping and entertainment experience for Surabaya residents.

Pakuwon City Mall is seamlessly connected to Pakuwon Town Square, three residential apartment towers, and the Aloft Hotel. The Amor Tower and Bella Tower have been completed, while the third tower and hotel are still under construction.

With the launch of Pakuwon City Mall 3, PT Pakuwon Jati now boasts a total Net Leasable Area (NLA) of 836,000 m². “The total construction cost for this mall is Rp 365 billion, while the development of phase 3, which includes two apartment towers and the hotel, is estimated at Rp 1.1 billion,” stated Minarto, Director of PT Pakuwon Jati.

Pakuwon Jati Tbk (PWON: IDX) is a prominent real estate developer with more than 42 years of expertise in property development and management in Indonesia. Founded in 1982 and publicly traded on the Jakarta Stock Exchange since 1989, Pakuwon Jati specializes in a diverse range of real estate projects across key locations such as Surabaya, Jakarta, Bekasi, Yogyakarta, Solo, Bali, and Batam.

The company's extensive portfolio encompasses retail, residential, commercial, and hospitality sectors, and it operates with a vertically integrated approach that spans the entire real estate value chain, including land acquisition, development, marketing, and operational management. As a pioneer of the Superblock concept in Indonesia, Pakuwon Jati has successfully created large-scale integrated developments that combine shopping centers, offices, condominiums, and hotels. Its established track record and strong reputation in the property market have facilitated the development of long-term relationships with tenants and buyers, laying a robust foundation for swift business growth.

Pakuwon has many properties spread over particularly in Jakarta, Bekasi, Surabaya, Yogyakarta, Solo, and Bali as follow:

• Gandaria City Superblock , Jakarta (retail shopping center, apartment, office building and hotel)

• Kota Kasablanka Superblock, Jakarta (retail shopping center, apartment, and office building)

• Somerset Berlian, Jakarta (serviced apartment)

• Blok M Plaza, Jakarta (retail shopping center)

• Tunjungan City Superblock, Surabaya (retail shopping center, apartment, office building and hotel)

• Pakuwon Mall Superblock, Surabaya (retail shopping center, apartment, serviced apartment, and hotel) and Pakuwon Mall Mansion phase 4 (3 apartment towers) which is under construction

• Royal Plaza, Surabaya (retail shopping center)

• Pakuwon City township (landed residential), Pakuwon City Mall (retail shopping center), Amor Tower and Bella Tower, and East Coast Mansion phase 2 (third tower and hotel that are under construction), as well as Educity apartment, in East Surabaya

• Grand Pakuwon township (landed residential) and Food Junction (Hypermarket, culinary & leisure destination), in West Surabaya

• Pakuwon Mall Superblock, Bekasi (retail shopping center, apartment, and hotel that are under construction)

• Pakuwon Mall Jogja and Yogyakarta Marriot Hotel (retail shopping center and hotel)

Business_Economy