Tanrise Property

What Tanrise Property does

Tanrise Property (legal entity PT Jaya Sukses Makmur Sentosa Tbk, IDX ticker RISE) is a publicly listed Indonesian property developer and the property arm of Tancorp Group, headquartered at Voza Tower in Surabaya. Founded in 2003 and listed on the Indonesia Stock Exchange in July 2018 after an IPO that raised Rp 244.50 billion, the company develops and operates a diversified portfolio across five segments: residential housing, apartments, premium offices, warehousing, and hospitality. Core products include the 38-floor Kyo Society Japanese-concept apartment (729 units), the 166-unit ARC100 wellness condominium, TritanHub's W.O.W. (Warehouse-Office-Workshop) industrial units in Sidoarjo, the Dakota City satellite city in Gresik, the Jumana Residence housing cluster in Sidoarjo, the Voza Premium Office Tower, and the Vasa Hotel integrated within Voza. The company also operates IdeaHub, a coworking and virtual office space within Voza Tower. In December 2023, Tanrise acquired a 45% stake in PT Taman Dayu, adding approximately 600 hectares of integrated resort land with a Jack Nicklaus Signature Golf Course in Pasuruan.

The company serves a diversified customer base spanning millennials and young professionals purchasing first homes or investment apartments (especially student housing near Universitas Surabaya), SMEs and UMKM seeking licensed, affordable industrial and warehouse space, property investors targeting rental yields, and corporate tenants leasing premium office space in Voza Tower. Revenue is generated primarily through one-time property sales (houses, apartments, shophouses, warehouses) with a recurring revenue stream from hotel operations (Rp 218.5 billion in FY2024) and office leasing. FY2024 total operating revenue reached Rp 365.5 billion, up 31% year-on-year, with Q1 2025 revenue of Rp 127 billion representing a step-change versus Q1 2024. Distribution combines direct sales via marketing galleries and show units across Surabaya, Sidoarjo, Pasuruan, Gresik, Bandung, Palembang, and Banjarbaru with partnerships involving six real estate agency networks and over 500 agents. Operations are concentrated in East Java with announced geographic expansion into Bali (Ubud, Canggu), Bromo, Malang, Manado, and Kalimantan, supported by 21 new projects planned over five years.

No proprietary technology platform, AI/ML capabilities, or patents are referenced in available sources. Competitive positioning rests on first-to-market niche concepts (Japanese-themed apartment, wellness condominium, digital-era warehouse), strategic locations near universities and industrial clusters, affordable financing (installments starting from Rp 79,000/day), on-time delivery using reputable contractors such as WIKA Gedung, and brand recognition validated by 2020 Asia Property Awards and Indonesia Property Awards. The parent group Tancorp's ecosystem, including the IDEACLOUD business festival and IdeaHub coworking community, provides complementary marketing and tenant-attraction capabilities.

Name

Tanrise Property

Legal name

PT Jaya Sukses Makmur Sentosa Tbk

Website

https://tanrise.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

Tanrise Property (IDX: RISE) is an Indonesian property developer and subsidiary of Tancorp Group that builds and operates diversified residential, apartment, office, industrial warehouse, and hospitality projects, serving millennials, SMEs, property investors, and corporate tenants primarily across East Java with expanding operations into Bali and other Indonesian cities.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Real Estate and Rental and Leasing (53), Activities Related to Real Estate (5313), Lessors of Real Estate (5311), Real Estate Property Managers (53131)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Operators (No Developers) & Lessors (6510), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industry

Mixed-Use Property Management (BPAJAGAE)

Keywords

• Residential property development
• Apartment development
• Warehouse real estate
• Hotel property operations
• Commercial office leasing

Headquarters

HQ city

Surabaya

HQ country

Indonesia

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Property Sales: Revenue from sales of residential units (houses, apartments), commercial units (ruko/shop-houses, warehouses/industrial units), and office units. This is the primary revenue driver. The company achieved Rp 365.5 billion in total operating revenue in 2024, up 31% from Rp 279 billion in 2023.
2. Hospitality / Hotel Operations: Revenue from hotel operations including Vasa Hotel and other hospitality properties. The hospitality segment generated Rp 218.5 billion in 2024, up 15% year-on-year from Rp 189.4 billion in 2023. The company develops and operates its own hotels as part of its property portfolio.
3. Office / Premium Office Leasing: Revenue from leasing premium office spaces such as Voza Premium Office Tower. Sucor Sekuritas and other tenants lease office space in Voza Tower, generating recurring rental income.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Tanrise Property develops, markets, and sells a diversified portfolio of residential, commercial, industrial, and hospitality real estate across Indonesia, primarily in East Java. Core offerings include residential housing clusters, mid- and high-rise apartments, flexible industrial warehouse units for SMEs, premium Grade-A office space, and owned-and-operated hotels. Revenue is generated primarily through one-time unit sales and recurring rental/leasing of its owned property portfolio.

Product overview

Tanrise Property operates a diversified property development portfolio spanning five main product categories: hotels, offices, apartments, residential housing, and warehousing. The company develops both owned projects and manages acquired properties. Key products include Kyo Society (Japanese-concept apartment), ARC100 (premium wellness condominium), TritanHub (digital-era warehouse), Dakota City (satellite city), and IdeaHub (coworking space). The portfolio also includes established properties like Voza Premium Office Tower, Vasa Hotel, and The 100 Residence. Recent acquisition of Taman Dayu adds integrated resort with golf course to the portfolio. The company is expanding into Bali with Villa Ubud and Villa Canggu projects.

Differentiator

Problem solved

Functional benefit

Brands

• Kyo Society: Japanese-concept apartment in Surabaya targeting young professionals and students, with 38 floors and 45 Japanese-themed facilities
• TritanHub
• Dakota City
• ARC100
• IdeaHub
• Jumana Residence
• Voza Tower
• Grand Sunrise Esplanade

Products and services

• Kyo Society Japanese-concept apartment building in Surabaya with 38 floors, 729 units, and 45 Japanese-inspired facilities including sky pool, gym, business lab, and garden. Targets young professionals, investors, and students near Universitas Surabaya. Installments start from Rp 79,000/day (approx. Rp 2.37 million/month) with fully furnished options available.
• ARC100 Kondo Premium Premium condominium in Surabaya built around a 'home, freedom, and meaning' wellness concept. Limited to 166 units with private lift, Royal Pool with city views, cinema, sky gym, meditation garden, and other wellness facilities.
• TritanHub Modern warehouse and flexible business space development in Gedangan, Sidoarjo featuring the W.O.W. (Warehouse, Office, Workshop) concept with industrial permits. Targeted at SMEs in repacking, manufacturing, dropshipping, and F&B operations. Phase 1 nearly sold out before Phase 2 launch.
• Dakota City Community-based satellite city development in Cerme, Gresik with eco-friendly, humanistic design. Phase 1 includes 355 residential units across The Potter House and The Windsor House types, targeting millennials and future generations seeking affordable housing with green spaces near the Surabaya-Gresik toll corridor.
• Jumana Residence Exclusive residential housing project in Krembung, Sidoarjo designed for modern lifestyle, with strategic location near industrial areas and public facilities such as health centers, traditional markets, and the NIP Ngoro industrial park.
• Voza Premium Office Tower Grade-A premium office building in Surabaya's West Surabaya CBD featuring green building systems, executive private lifts, and 24-hour operations. Integrates with Vasa Luxury Hotel on-site and houses the IdeaHub coworking community. Tenant base includes securities and financial services firms such as Sucor Sekuritas.
• Vasa Hotel Luxury hotel property integrated with Voza Premium Office Tower in Surabaya offering hospitality services to leisure and business travelers in the West Surabaya CBD area.
• The 100 Residence High-rise residential building with a single-building concept and private lift, offering spacious balconies with panoramic views and premium amenities including a swimming pool with ozone system. Developed through subsidiary PT Rodeco Indonesia.
• IdeaHub Coworking Space Professional coworking space located inside Voza Tower offering Hot Desks (open space), Private Offices for companies and startups, and Virtual Office subscriptions. Targets freelancers, startups, and SMEs seeking collaborative work environments in West Surabaya.
• Grand Sunrise Esplanade Modern residential cluster in West Surabaya featuring underground electricity, private cluster concept, one-gate system, 24-hour security, commercial areas, and clubhouse facilities. Targeted at end-users with a 0% down-payment scheme.
• Taman Dayu Integrated resort property featuring a Jack Nicklaus Signature Golf Course on approximately 600 hectares of land in Taman Dayu, Pasuruan. Jointly owned 55% by TANCORP and 45% by Tanrise Property following the December 2023 acquisition. Adds resort and golf-course operations to Tanrise's portfolio.
• TritanPoint Industrial warehouse property complementing TritanHub, providing additional storage solutions for businesses in the Greater Surabaya industrial corridor.

Quantifiable outcome

• Revenue grew 31% YoY to Rp 365.5 billion in 2024 from Rp 279 billion in 2023
• +5 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and minor.

• PT HM Sampoerna Tbk and PT Wahana SampoernacoreOthers · 27 December 2023TANCORP and Tanrise Property (RISE) acquired PT Taman Dayu and PT Golf Taman Dayu from PT HM Sampoerna Tbk and PT Wahana Sampoerna. The acquisition was completed on December 27, 2023, after signing the conditional sale-purchase agreement in November 2023. Post-acquisition ownership is 55% TANCORP and 45% RISE (Tanrise Property). Taman Dayu features a Jack Nicklaus Signature Golf Course on approximately 600 hectares of land in Pasuruan.
• Sucor SekuritasminorGTM or Marketing Partner · 6 February 2023Sucor Sekuritas served as the main sponsor for IdeaHub's '7 Days of Impact' grand opening event. Additionally, Sucor Sekuritas opened its 39th branch (3rd in Surabaya) at Voza Tower, creating a tenant-partnership synergy at Tanrise's premium office property. Sucor Sekuritas conducted investment classes during the IdeaHub opening event.
• Startup Community (Komunal, Kasir Pintar, Riliv)minorGTM or Marketing Partner · 6 February 2023Local Surabaya startups including Komunal (fintech), Kasir Pintar (POS/retail tech), and Riliv (mental health tech) participated as speakers in IdeaHub's '7 Days of Impact' opening event. More than 40 companies participated in the coworking space's opening activities, building a startup and innovation community ecosystem within Voza Tower.
• Real Estate Agency Network (Alta, Brighton, DB Real Estate, Galaxy, Propnex, Xavier Marks)coreChannel Partner/ Reseller/ Distributor · 27 March 2021Six real estate agency networks were appointed as distribution partners for Dakota City's NUP (Nomor Urut Pemesanan) sales system. These established property agencies provide wide market reach for the Dakota City satellite city project in Cerme, Gresik. The partnership utilizes agents' existing customer databases and sales expertise.
• PT Wijaya Karya Bangunan Gedung Tbk (WIKA Gedung)coreImplementation/ SI/ Consulting Partner · 19 February 2021WIKA Gedung was appointed as the main contractor for the construction of Kyo Society apartment, handling the upper structure (building structure and architecture). The partnership leverages WIKA Gedung's established reputation in high-rise building construction to ensure timely and quality delivery of the 38-floor, 38,000 sqm Japanese-themed apartment complex in Surabaya.
• PT Indonesia Pondasi Raya Tbk (Indopora)coreImplementation/ SI/ Consulting Partner · 1 January 2021Indopora was contracted to construct the foundation of Kyo Society. The foundation work was successfully completed 100% in January 2021, on schedule and without issues despite challenging ground conditions. Foundation work handover ceremony was held at the project site in February 2021.
• IDEACLOUD 2020 Participants and SpeakersminorGTM or Marketing Partner · 13 March 2020Over 60 speakers and 6,500 participants from 21 cities and 2 countries attended the IDEACLOUD 2020 business festival organized by TANCORP Group at Voza Premium Office. Speakers included entrepreneurs, business leaders, and thought leaders from various sectors including F&B, retail, and manufacturing. This community event builds brand reputation and thought leadership.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Alam Sutera Realty: Indonesian listed property developer (IDX: ASRI) focused on integrated townships in Greater Jakarta with residential, commercial, and industrial segments. Closely comparable in scale, public listing, and diversified product mix.
• Jaya Real Property: Indonesian listed developer (IDX: JRPT) operating BSD City and other integrated townships. Comparable in public listing structure and mixed-use development model.
• Pakuwon Jati: Indonesian listed developer (IDX: PWON) with superblock integrated developments in Surabaya and other cities, including residential, apartments, malls, and hotels. Particularly relevant given East Java focus and integrated mixed-use format similar to Tanrise's Voza Tower+Vasa Hotel model.
• PP Properti: Indonesian listed property developer (IDX: PPRO) focused on residential, apartments, hotels, and commercial properties. Comparable in mid-cap listed status and diversified portfolio across residential, hospitality, and commercial segments.
• Intiland Development: Mid-sized Indonesian listed developer (IDX: DILD) with residential, apartment, and commercial projects concentrated in Greater Surabaya and Jakarta. Strong comparable given similar mid-cap size and East Java exposure.
• Modernland Realty: Indonesian listed property developer (IDX: MDLN) with townships, residential, commercial, and industrial projects. Comparable in scale and multi-segment property development model.

Broad incumbents

• Ciputra Development: One of Indonesia's largest publicly listed property developers (IDX: CTRA), with diversified residential, commercial, and mixed-use projects across Java and beyond. Directly comparable as a public Indonesian property developer operating in similar residential and commercial segments.
• Summarecon Agung: Major Indonesian listed developer (IDX: SMRA) known for integrated township developments including residential, commercial, and hospitality. Comparable in operating large-scale master-planned communities and mixed-use formats.
• Lippo Karawaci: One of Indonesia's largest integrated property developers (IDX: LPKR) with residential townships, hospitals, malls, and hotels. Comparable as a large-scale Indonesian listed property company with diversified real estate verticals.
• Sinar Mas Land: Major Indonesian listed developer (through BSD City and other brands) with the largest land bank in Indonesia. Comparable as a public Indonesian property developer with broad residential and commercial portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/propertytanrise
• Instagraminstagram.com/tanriseproperty

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 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 Tanrise Property