What PP Properti does

PT PP Properti Tbk is a publicly listed Indonesian property developer (IDX: PPRO) and a 64.96%-owned subsidiary of state-owned construction company PT PP (Persero) Tbk. Founded in 2014 as a spin-off of the parent's property division and IPO'd in 2015, the company operates three business lines: Residential (apartments and landed houses including the Grand Kamala Lagoon, Grand Sungkono Lagoon, and Permata Puri Cibubur projects), Mall & Edutainment (KidZania Surabaya, Lagoon Avenue malls, Kaza City, Grand Slipi Tower), and Hotels (Prime Park Hotel, Park Hotel, and Palm Park Hotel brands managed through PT PP Hospitality). Geographic footprint spans Java, Sumatra, Kalimantan, and West Nusa Tenggara, with 251-500 employees.

The business model is primarily one-time license/unit-sale driven, with revenue recognized on project handover of residential and commercial units, supplemented by recurring hotel operations and commercial rental income. Distribution combines on-site sales galleries, a corporate/bulk sales team (epitomized by a 2018 Rp2.1 trillion pre-launch bulk sale of three Westown View apartment towers to a Dubai-based investor), an E-PPROC electronic procurement platform, the Indonesia Properti Expo exhibition circuit, and a Bank BTN partnership for retail KPR mortgage financing. The company has no proprietary technology platform; core systems are E-PPROC, HRIS, and WI Online work-procedure tools.

Financially, the company is in a recovery phase. FY2025 revenue was Rp323.2 billion with a gearing ratio of 86.92%, following a multi-year revenue decline. The company is operating under a Homologation Decision recovery process with active asset value adjustments, inventory revaluation, and portfolio restructuring. A comprehensive 2025 leadership overhaul installed Dyah Rahadyannie as President Director alongside new Commissioners, a new Finance Director, and a new Business Management & HCM Director, all drawn from within the PT PP (Persero) group. An ongoing BANI arbitration case related to The Alton Apartment in Semarang adds legal-process risk during the recovery.

Name

PP Properti

Legal name

PT PP Properti Tbk

Website

https://pp-properti.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Short description

PT PP Properti Tbk is a publicly listed Indonesian property developer (IDX: PPRO) and 64.96%-owned subsidiary of state-owned PT PP (Persero) Tbk, developing residential apartments, landed houses, malls, edutainment centers, and hotels across Indonesia. It serves middle-to-upper-income residential buyers, retail visitors, and hotel guests nationwide.

Ownership category

akta.pro rank

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Residential Property Sales: Development and sale of residential properties including apartments (The Ayoma, Grand Kamala Lagoon, Grand Sungkono Lagoon, Begawan Apartment, etc.) and landed houses (Permata Puri Cibubur, Permata Puri, etc.) across Indonesia. Revenue is recognized upon handover of units. FY2025 revenue stood at Rp323.2 billion.
2. Mall & Edutainment: Development and operation of commercial retail spaces and edutainment facilities including KidZania Surabaya, Lagoon Avenue malls, Kaza City, Grand Slipi Tower office and retail, and Sungkono Business Park.
3. Hotel & Hospitality: Operation of owned and managed hotels including Prime Park Hotel & Convention Lombok, Prime Park Hotel Bandung, Park Hotel Jakarta, Palm Park Hotel & Convention Surabaya, Prime Park Hotel & Convention Pekanbaru, and Swiss-Belhotel Balikpapan. Hospitality brand is managed through PT PP Hospitality.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

PT PP Properti Tbk develops, sells, and operates integrated property projects across three business lines: Residential (apartment towers and landed houses under the Lagoon Series and other brands), Mall & Edutainment (shopping centers such as Lagoon Avenue and the KidZania Surabaya edutainment facility), and Hotel (Prime Park Hotel, Park Hotel, and Palm Park Hotel brands). The company markets units to individual home-buyers, sells bulk blocks to institutional investors, and operates the completed hospitality and retail assets.

Product overview

PT PP Properti Tbk is a property development company operating as a subsidiary of PT PP (Persero) Tbk, developing three main business lines: Residential (apartments and landed houses), Mall & Edutainment (shopping centers and entertainment venues), and Hotels. The portfolio includes flagship projects such as Grand Kamala Lagoon, Grand Sungkono Lagoon, and Grand Dharmahusada Lagoon under the Residential segment; KidZania Surabaya, Lagoon Avenue complexes, and Grand Slipi Tower under Mall & Edutainment; and Prime Park Hotels and Park Hotel under the Hotel segment. The company focuses on integrated mixed-use developments across Indonesia.

Differentiator

Problem solved

Functional benefit

Brands

• Grand Kamala Lagoon: Mixed-use residential development in Bekasi
• Grand Sungkono Lagoon
• Grand Dharmahusada Lagoon
• The Ayoma Apartment
• Begawan Apartment
• Westown View
• KidZania Surabaya
• Prime Park Hotel
• Park Hotel
• Lagoon Avenue
• Evenciio Apartment

Products and services

• Grand Kamala Lagoon Mixed-use residential development in Bekasi featuring apartment complexes with lagoon-themed lifestyle amenities, targeted at middle to upper-middle income urban families.
• Grand Sungkono Lagoon Mixed-use residential development in Surabaya combining apartments with commercial and lifestyle facilities, recognized as the first super block with a green concept in Surabaya.
• Grand Dharmahusada Lagoon Student residence apartment complex in Surabaya near educational institutions including ITS and UNAIR, targeted at university students and the surrounding community.
• The Ayoma Apartment Apartment complex in Serpong targeting young professionals and families, notable for its Test-Living concept marketing recognized with a 2018 Asia-Pacific Stevie Award.
• Evenciio Apartment Apartment development in Margonda, Depok, recognized as the Most Preferred Property in Depok at the 2019 Rumah123 Real Estate Awards.
• The ALTON Apartment project in Semarang that was part of the seven-project handover wave completed in 2020.
• Begawan Apartment Student residence apartment in Malang, completed and handed over in 2020.
• Amartha View Apartment complex in Semarang that was part of the 2020 handover batch.
• Westown View Residential apartment development in Surabaya recognized with the 2020 Asia Pacific Property Award for Best Residential High Rise Development.
• Gunung Putri High-rise residential development in the Bogor area, including the Gunung Putri Square commercial component.
• Paladian Park Apartment development in North Jakarta, recognized as the Most Preferred Apartment in North Jakarta at the 2016 Consumer Choice Awards.
• Riverview Residence Apartment complex in Cikarang featured in the PP Properti residential portfolio.
• Louvin Residential development in the Jatinangor area, near university campuses.
• Mazhoji Residential apartment in Depok featured in the PP Properti residential portfolio.
• Permata Puri Cibubur Landed house development in the Cibubur area, recognized for Best Mid End Housing Architectural Design at the 2022 Indonesia Property Awards.
• KidZania Surabaya Family edutainment center in Surabaya offering interactive role-play learning experiences for children, operated as part of the Mall & Edutainment segment.
• Lagoon Avenue Bekasi Shopping center and commercial complex in Bekasi, integrated with the Grand Kamala Lagoon residential project.
• Lagoon Avenue Sungkono Shopping center in Surabaya with edutainment components, integrated with the Grand Sungkono Lagoon residential project.
• Grand Slipi Tower Commercial office and retail tower in Jakarta, operated under the Mall & Edutainment segment.
• Kaza City Commercial shopping center in Surabaya operated under the Mall & Edutainment segment.
• De Tjolomadoe Heritage-based commercial venue in Central Java, repurposed from a former industrial site and operated under the commercial portfolio.
• Prime Park Hotel & Convention Lombok Hotel and convention facility in Lombok managed under the Prime Park brand, targeting business travelers, tourists, and event organizers.
• Prime Park Hotel Bandung Hotel property in Bandung operated under the Prime Park Hotel brand, managed by PT PP Hospitality.
• Park Hotel Jakarta Hotel property in Jakarta operated under the Park Hotel brand, managed by PT PP Hospitality.
• Palm Park Hotel & Convention Surabaya Hotel and convention center in Surabaya operated under the hospitality portfolio alongside the Prime Park and Park Hotel brands.
• Prime Commercial Property at Jl. Raya Darmo No. 29, Surabaya Standalone commercial property in Surabaya's Darmo district marketed via auction, sold on a per-deal basis.

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered major and minor.

• PT Jababeka (KIJA)majorStrategic or Co-development Partner · 19 April 2018PP Properti partnered with PT Jababeka to develop the Little Tokyo project, an integrated vertical residential development in the Jababeka area, Cikarang. The project targets millennials and expatriates working in the industrial area, with targeted sales of Rp 3.6 trillion. This represents a significant co-development partnership for PP Properti.
• PT Wisma Seratus SejahteraminorOthersRelated entity within the PP group. CEO Ronaldy Samuel Sinurat previously served as CEO of PT Wisma Seratus Sejahtera before joining PP Properti.
• PT PP UrbanminorOthersRelated entity within the PT PP group. CEO Fakhrul Ulum previously served as CEO of PT PP Urban. Both operate under PT PP (Persero) Tbk umbrella.
• PT Griyaton IndonesiaminorOthersGranddaughter company of PT PP (Persero) Tbk. CFO Ikhwan Putra Pradhana served as director at this entity.
• PT Sinergi ColomaduminorOthersRelated entity under PT PP (Persero) group. Nurjaman served as General Manager at PT Sinergi Colomadu before his current role.
• Bank BTN (Tabungan Negara)majorChannel Partner/ Reseller/ DistributorPP Properti has an ongoing partnership with Bank BTN to offer KPR (home mortgage) financing to property buyers. BTN promotional rates (such as 1.76% KPR) have been offered to PPRO customers, facilitating property purchases through the national mortgage bank.
• RSM Indonesia (Amir Abadi Jusuf, Aryanto, Mawar dan Rekan)minorOthersAppointed public accounting firm that audited the consolidated financial statements for FY2025 with a 'Wajar Dalam Semua Hal yang Material' (Fair in All Material Aspects) opinion.
• Lloyd's Register IndonesiaminorOthersCertifying body that issued ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015 certifications to PP Properti.

Scale indicators6 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• PT PP (Persero) Tbk: State-owned construction conglomerate and majority shareholder of PP Properti (64.96% ownership). Comparable as the parent in property development, though its core business is construction contracting rather than property development.

Direct peers

• PT Agung Podomoro Land Tbk: Indonesian publicly listed property developer focused on apartments, offices, and shopping centers in Jakarta and other major cities. Direct competitor in the mid-to-upper apartment segment.
• PT Bumi Serpong Damai Tbk: Major Indonesian property developer known for BSD City integrated township with residential, commercial, and hospitality components. Comparable in scale and integrated mixed-use approach.
• PT Intiland Development Tbk: Indonesian publicly listed property developer with mixed-use developments in Jakarta, Surabaya, and other cities. Comparable in mid-to-high residential and commercial project portfolio.
• PT Lippo Karawaci Tbk: Indonesian diversified property group developing residential, commercial, hospitality, and healthcare real estate. Comparable wide portfolio spanning integrated developments across Indonesia.
• PT Summarecon Agung Tbk: Publicly listed Indonesian developer of integrated townships including apartments, landed houses, and malls. Highly comparable in mixed-use development strategy and middle-to-upper income target market.
• Triniti Land: Indonesian boutique property developer focused on lifestyle residential projects, where PP Properti's Managing Director Daniel Moeis previously served as Marketing Director. Direct peer in mid-segment Indonesian apartments.
• PT Ciputra Development Tbk: One of Indonesia's largest publicly listed property developers with residential, commercial, and mixed-use projects across the country. Directly comparable as a diversified Indonesian property developer with similar product categories and customer segments.
• PT MNC Land Tbk: Indonesian property developer with integrated resort and residential developments. Comparable in hospitality and mixed-use developments targeting similar urban demographics.
• KidZania (operated globally by KidZania Group): Global edutainment franchise operator. PP Properti operates the KidZania Surabaya location within its Lagoon Avenue Sungkono development, making it a peer in the edutainment/recreational facility segment.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCUlskA4upvyE6n7YRnbAuJg
• Facebookfacebook.com/PTPPPropertiTbk
• LinkedInlinkedin.com/company/pt-pp-properti-tbk
• Instagraminstagram.com/ppproperti
• Xx.com/pp_properti

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PP Properti