Jakarta Setiabudi Internasional

What Jakarta Setiabudi Internasional does

PT Jakarta Setiabudi Internasional Tbk (JSPT) is an Indonesia-listed (IDX: JSPT, IPO January 1998) diversified property investment and development company founded in 1975 by Darmadi. It operates four business divisions: Hotels (11 properties with 2,676 rooms across Jakarta, Yogyakarta, and Bali operated under Hyatt and Accor franchise brands), Residential (a 1.4 million sqm land bank including townships Puri Botanical, Savanna Sumatera, Hyarta EcoVillage, Hyarta Residence, Setiabudi SkyGarden, and the Savyavasa JV with Swire Properties), Office (55,081 sqm of leasable space across Setiabudi Atrium, Setiabudi 2 Building, and Menara Cakrawala in Jakarta's CBD), and Retail (40,127 sqm across Bali Collection, Setiabudi One, One Satrio, Plaza Menteng, and Cikini Retail).

The company generates revenue through four streams: managed hotel operations (recurring fees tied to international brand franchises), one-time residential property sales (township and high-rise units), recurring office leasing, and recurring retail leasing. Customer segments span corporate office tenants, retail brands and F&B operators, leisure and business hotel guests, and individual residential buyers. Pricing is not publicly disclosed; rates are individually negotiated across all segments. Distribution is direct via owned properties; GTM motion combines B2B leasing/sales for offices and retail, B2C sales for residential units, and franchise-mediated hotel distribution.

The technology layer is conventional — integrated property development and hotel management operations with no disclosed proprietary AI, data, or digital platform products. Strategic differentiation comes from long-held prime real estate locations, multi-decade partnerships with Hyatt and Accor, and joint ventures with international developers (Swire Properties, Tokyu Land). The company reported record-high performance in 2024 with revenue up 34% year-over-year through Q3 2024. Jefri Darmadi serves as President Director; ownership is distributed among public shareholders following the 1998 IPO.

Name

Jakarta Setiabudi Internasional

Legal name

PT Jakarta Setiabudi Internasional Tbk.

Website

https://jsi.co.id

Company type

Public

Founded year

1975

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PT Jakarta Setiabudi Internasional (JSPT) is an Indonesia-listed diversified property developer operating hotels (11 properties, 2,676 rooms under Hyatt/Accor brands), residential townships (1.4M sqm land bank), office (55,081 sqm), and retail (40,127 sqm) across Jakarta, Yogyakarta, Bali, and North Sumatra.

Ownership category

akta.pro rank

Product category

Real Estate Investment and Development

NAICS

Real Estate Property Managers (53131), Rental and Leasing Services (532)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

Keywords

• Hotel operations
• Property development
• Residential real estate
• Commercial office leasing
• Retail property management

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Hotel Operations: Revenue from operating 11 hotels under international brands (Hyatt, Accor) across Jakarta, Yogyakarta, and Bali with 2,676 rooms
2. Residential Property Sales: Revenue from developing and selling residential properties including Puri Botanical, Hyarta Residence, Savanna Sumatera, Setiabudi SkyGarden, and Savyavasa
3. Office Leasing: Leasing of office spaces including Setiabudi Atrium (22,277 sqm), Setiabudi 2 Building (15,393 sqm), and Menara Cakrawala (17,411 sqm)
4. Retail Leasing: Leasing of retail spaces including Bali Collection (25,931 sqm), Setiabudi One (11,528 sqm), One Satrio (8,700 sqm), Plaza Menteng (990 sqm), and Cikini Retail (1,678 sqm)

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

PT Jakarta Setiabudi Internasional Tbk (JSI) is a diversified Indonesian property investment and development company operating across four divisions: Hotels (11 properties with 2,676 rooms), Residential (developing landed houses, apartments, and townships on approximately 1,407,000 sqm of land), Office (leasing 55,081 sqm in Jakarta's CBD), and Retail (4 properties with 40,127 sqm of leasable area). The hotel portfolio is operated under international brand franchises including Hyatt and Accor; residential properties are developed and sold directly to buyers; office and retail spaces are leased to corporate and retail tenants across Jakarta, Yogyakarta, Bali, and North Sumatra.

Product overview

PT Jakarta Setiabudi Internasional Tbk (JSI) is a property investment and development company with a diversified portfolio across four main business divisions: Hotels (11 properties with 2,676 rooms), Residential (managing 1.4 million sqm of land), Retail (4 properties with 40,127 sqm total lease area), and Office (55,081 sqm of leasable space). The hotel portfolio includes internationally-branded properties such as Grand Hyatt Bali, Hyatt Regency Bali, Andaz Bali, Hyatt Regency Yogyakarta, Mercure Convention Center, Mercure Resort Sanur, and budget hotels under the Ibis Budget and POP! Hotel brands. The residential division features developments including Puri Botanical, Hyarta EcoVillage, Hyarta Residence, Setiabudi SkyGarden, Savanna Sumatera township, and the joint venture project Savyavasa with Swire Properties. Office properties include Setiabudi Atrium, Menara Cakrawala, and Setiabudi 2 Building in Jakarta's CBD. Retail properties include Bali Collection in Nusa Dua, Setiabudi One in Kuningan, One Satrio in Mega Kuningan, Plaza Menteng, and Cikini Retail.

Differentiator

Problem solved

Functional benefit

Brands

• Plaza Setiabudi: A 5-hectare mixed-use development in Central Business District, Kuningan, Jakarta, comprising office buildings (Setiabudi 2, Setiabudi Atrium) and retail (Setiabudi One).
• Mega Kuningan Project
• Savyavasa

Products and services

• Grand Hyatt Bali Five-star beachfront resort in Nusa Dua, Bali with 20-minute proximity to Ngurah Rai International Airport; offers luxury accommodation and MICE facilities under Hyatt brand.
• Hyatt Regency Bali Five-star hotel with 363 rooms featuring private balconies and classic Balinese design on Sanur beach, Bali.
• Andaz Bali 5-star boutique hotel with 149 rooms including 12 suites and 22 villas across 6.2 hectares in Sanur, Bali, operated under the Andaz brand.
• Hyatt Regency Yogyakarta Five-star hotel surrounded by 21 hectares of gardens with views of Mount Merapi in Yogyakarta, operated under Hyatt brand.
• Mercure Convention Center Four-star seaside hotel with 434 rooms located within Taman Impian Jaya Ancol, Jakarta, 30 minutes from Soekarno-Hatta International Airport, with extensive MICE facilities.
• Mercure Resort Sanur Four-star resort with 189 rooms on 3.9 hectares of tropical gardens along white sand beach in Sanur, Bali, including 41 thatched-roof cottages.
• Ibis Budget Jakarta Menteng Budget hotel in Menteng district, 5 minutes from the Golden Triangle and Jakarta's CBD, offering affordable contemporary accommodation under Accor's Ibis Budget brand.
• Ibis Budget Jakarta Cikini Budget hotel adjacent to Taman Ismail Marzuki cultural arts center, near the Golden Triangle business district and Gambir Train Station under Accor's Ibis Budget brand.
• POP! Hotel Kemang Modern budget hotel in Kemang area of South Jakarta, surrounded by retail, bars, cafes, restaurants and malls, 15 minutes from the Golden Triangle.
• POP! Hotel Malioboro Budget hotel near Malioboro Street in Yogyakarta, a popular shopping and traditional food area, 30 minutes from Adisucipto International Airport.
• POP! Hotel Pemuda Semarang Budget hotel located in Simpang No.9 Sekayu, Semarang, offering 134 modern rooms for travelers.
• Puri Botanical Modern residential area in West Jakarta offering healthy lifestyle and eco-friendly environment with botanical gardens concept on 135 hectares, comprising approximately 3,000 units.
• Hyarta EcoVillage Premium integrated lifestyle destination in Yogyakarta featuring 120 green-concept townhouses and 9 exclusive shophouses with 6,000 sqm of open green space and 45% land dedicated to nature conservation.
• Hyarta Residence Luxury residential complex in exclusive Yogyakarta area with 75 units ranging from 180-264 m2, each with private gardens and views of Mount Merapi.
• Setiabudi SkyGarden Residential complex in Jakarta's CBD consisting of 2 strata-title towers (Sky Tower and Garden Tower) with 586 units, plus Fraser Tower for serviced apartments managed by Frasers Hospitality.
• Savanna Sumatera New township development in Deli Serdang, Medan with total land area of approximately 667 hectares comprising various residential clusters, townhouses, and apartments.
• Savyavasa Internationally-standard residential development in South Jakarta developed through partnership between JSI Group and Swire Properties, located in Dharmawangsa area.
• Setiabudi Atrium Office building integrated with Plaza Setiabudi in Central Business District at Jl. H.R. Rasuna Said Kav.62, Kuningan, Jakarta, offering 22,277 sqm of leasable area.
• Menara Cakrawala 18-story office building located in the heart of Jakarta at Jl. M.H. Thamrin No.9 with 17,411 sqm of leasable area above a supporting retail center.
• Setiabudi 2 Building Office building part of Plaza Setiabudi complex in CBD at Jl. H.R. Rasuna Said Kav 62, Kuningan, Jakarta, offering 15,393 sqm of leasable area.
• Bali Collection Exclusive lifestyle and entertainment center occupying 8 hectares in Nusa Dua, Bali, the first single-storey open-air mall in Bali with 25,931 sqm rentable area.
• Setiabudi One Modern entertainment center in strategic Kuningan, South Jakarta with 11,528 sqm rentable area across 4 floors, serving business professionals with dining, beauty, and entertainment offerings.
• One Satrio Lifestyle hub part of Mega Kuningan Project on 3.8 hectares mixed-use development, featuring 8,700 sqm across 3 floors for executives, millennials, and businesses.
• Plaza Menteng Retail center serving guests of Ibis Budget Jakarta Menteng and surrounding community, occupying 990 sqm of leasable area in same building as the hotel.
• Cikini Retail Retail area consisting of restaurants, banks, ATMs, minimarkets, and spas serving guests of Ibis Budget Jakarta Cikini and surrounding community with 1,678 sqm.

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

Nine partnerships are on record, tiered minor and core.

• Elizabeth InternationalminorStrategic or Co-development Partner · 1 January 2026Educational partnership for hospitality talent development through 'Class Take Over' program at Hyatt Regency Bali and Andaz Bali, bringing industry practitioners to train students.
• Dompet DhuafaminorStrategic or Co-development Partner · 1 January 2026CSR partnership for zakat (charitable giving) services during Ramadan at Setiabudi Atrium, Setiabudi One, and One Satrio properties.
• Hyatt InternationalcoreStrategic or Co-development Partner · 1 January 2015Long-standing partnership with Hyatt International for hotel operations including Grand Hyatt Bali, Hyatt Regency Bali, Andaz Bali, and Hyatt Regency Yogyakarta. Hyatt manages hotel operations under franchise agreements bringing international standards and global distribution.
• Accor Asia PacificcoreStrategic or Co-development PartnerPartnership with Accor for operating Mercure Convention Center, Mercure Resort Sanur, Ibis Budget Jakarta Menteng, Ibis Budget Jakarta Cikini, and POP! Hotel properties under Accor's budget and midscale brands.
• Tokyu Land CorporationcoreStrategic or Co-development PartnerCollaboration on Hyarta EcoVillage development in Yogyakarta with Tokyu Land Indonesia and PT Karyadeka Alam Lestari, combining Japanese development expertise with local knowledge.
• PT Karyadeka Alam LestariminorStrategic or Co-development PartnerLocal partner in Hyarta EcoVillage development in Yogyakarta collaborating with Tokyu Land Indonesia.
• Swire PropertiescoreStrategic or Co-development PartnerJoint development of Savyavasa, an international-standard residential development in Dharmawangsa, Jakarta Selatan. Partnership combines JSI's local expertise with Swire Properties' international development standards.
• Mandarin OrientalminorStrategic or Co-development PartnerHistorical partnership reference for hotel development expertise from early company history.
• ShimizuminorStrategic or Co-development PartnerConstruction partnership mentioned in company history for building projects.

Scale indicators7 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Summarecon Agung: Indonesian publicly listed property developer with a similar diversified portfolio across residential townships, retail malls, and office properties. Comparable as a direct competitor in Indonesian mixed-use and residential development with similar GTM.
• Agung Sedayu Group: Large Indonesian private property conglomerate with residential townships, office towers, and integrated mixed-use developments including PIK. Comparable diversified portfolio across Indonesian real estate segments with premium positioning.
• Intiland Development: Indonesian listed property developer with residential, office, and industrial properties. Comparable mid-cap Indonesian property investment and development company with similar diversified asset mix.
• Alam Sutera Realty: Indonesian listed property developer focused on integrated township developments with residential, commercial, and retail components. Comparable in Indonesian property development scale and mixed-use strategy.
• Ciputra Development: Major Indonesian listed property developer operating across residential, commercial, and mixed-use developments. Direct comparable in scale and Indonesian market focus, with overlapping customer segments in middle-to-upper residential and commercial leasing.
• Jaya Real Property: Indonesian listed property developer focused on Bintaro township and mixed-use developments. Comparable in Indonesian property development with integrated township strategy and recurring commercial income.
• Sinar Mas Land (BSD): One of Indonesia's largest listed property developers with extensive residential townships, commercial, and hospitality assets. Comparable diversified property investment and development model with similar long-cycle capital structure.
• Lippo Karawaci: Indonesian listed diversified property company with residential, commercial, retail (Lippo Mall), and healthcare assets. Direct comparable for diversified Indonesian real estate investment model with recurring and development revenue streams.
• Metropolitan Development: Indonesian listed property developer (MDLN) with residential, commercial, and hospitality assets. Direct comparable for diversified Indonesian property investment with hotel exposure.
• MNC Land: Indonesian listed property company with integrated developments including hotels, theme parks, and mixed-use projects. Comparable for diversified Indonesian property portfolio with hospitality focus and recurring revenue streams.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries9 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 Jakarta Setiabudi Internasional