What INDONESIA PRIMA PROPERTY does

PT Indonesia Prima Property Tbk is an Indonesia-domiciled, publicly listed property investment holding company (IDX ticker: IPPT) that operates a diversified five-segment portfolio across hospitality, apartment, office, shopping center, and residential real estate. The company was established in 1983 in Surabaya and has been listed on the Indonesia Stock Exchange since August 22, 1994, with 1,745,000,000 shares currently outstanding. Operating assets span major Indonesian urban centers and include the 4-star Grand Tropic Suites Hotel in Jakarta (188 rooms) and Surabaya (209 rooms), the four-tower Puri Casablanca serviced apartment complex in Jakarta's golden triangle, the Wisma Sudirman office building (operated via subsidiary PT Panen Lestari Basuki since 1979), Plaza Parahyangan — a 6-floor Bandung shopping center anchored by approximately 450 distro shops — and the Bukit Tiara Tangerang residential estate developed by subsidiary PT Graha Mitrasantosa. Additional wholly-owned subsidiaries (PT Bali Turtle Island Development, PT Bali Riviera Development, PT Kebon Melati Mas) hold property development positions including in Bali.

The business model is asset-rental and operational: revenue is generated through hotel room revenue, apartment leases (both long-term and short-stay), office rents to corporate tenants, retail rents from shopping center tenants, and residential unit sales. Pricing is not publicly disclosed and is negotiated based on market rates. The company distributes through direct B2B rental agreements with corporate and retail tenants, direct leasing for apartments, direct hotel bookings and corporate contracts, and direct residential sales — all within a single-country (Indonesia) geographic footprint. Marketing and stakeholder communication occur primarily through the corporate website (ipp.co.id), the investor relations portal, and annual public expose materials.

Customer segments are horizontal across four distinct groups: corporate office tenants, individual and corporate apartment lessees, retail/distro tenants, and hotel guests, supplemented by individual residential buyers. The leadership team includes President Commissioner Husni Ali, President Director Marcello Theodore Taufik, and Vice President Director Sriyanto Muntasram, with a board comprising multiple independent commissioners. There are no disclosed AI, technology platform, or digital product capabilities; the company's competitive position rests on the long-tenured, CBD-located nature of its physical asset base rather than on technology differentiation.

Name

INDONESIA PRIMA PROPERTY

Legal name

PT Indonesia Prima Property Tbk

Website

https://ipp.co.id

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

101–250 employees

Short description

PT Indonesia Prima Property Tbk is an Indonesia-listed property holding company operating a diversified portfolio of hotels, apartments, offices, shopping centers, and residential estates across Jakarta, Surabaya, Bandung, and Tangerang through wholly-owned subsidiaries.

Ownership category

akta.pro rank

Product category

Real Estate Property Investment & Management

NAICS

Corporate, Subsidiary, and Regional Managing Offices (551114), Management of Companies and Enterprises (55111)

SIC

Lessors Of Real Property, Nec (6519), Investors, Nec (6799)

akta.pro primary industry

Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

Keywords

• Property investment
• Commercial real estate
• Hospitality services
• Apartment leasing
• Shopping center operations

Headquarters

HQ city

Jakarta Pusat

HQ country

Indonesia

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Others

Distribution channels4 records

Marketing channels3 records

Core offering

PT Indonesia Prima Property Tbk is a property investment and real estate development holding company operating through subsidiaries across five segments: hospitality (Grand Tropic Suites Hotels in Jakarta and Surabaya), serviced apartments (Puri Casablanca), office space rental (Wisma Sudirman/PT Panen Lestari Basuki), shopping center operations (Plaza Parahyangan in Bandung), and residential housing development (Bukit Tiara Tangerang). The company invests in and manages diversified Indonesian properties, earning revenue from hotel operations, rental income, tenant management, and residential property sales.

Product overview

PT Indonesia Prima Property Tbk is a property investment company with operations in office rental, shopping center rental, apartment rental, hospitality, and residential housing development. The company's product portfolio includes two hospitality properties (Grand Tropic Suites Hotel Surabaya and Grand Tropic Suites Hotel), one apartment complex (Puri Casablanca), one office building (PT Panen Lestari Basuki), one shopping center (Plaza Parahyangan), and one residential estate (Bukit Tiara Tangerang). The company operates primarily through subsidiaries and maintains investments across five property segments.

Differentiator

Problem solved

Functional benefit

Brands

• Grand Tropic Suites Hotel: 4-star hotel with apartment style accommodations featuring 209 rooms in Surabaya and 188 rooms in Jakarta, with conference facilities, fitness center, pool, sauna, jacuzzi, tennis courts, and kids club.
• Puri Casablanca
• Plaza Parahyangan
• Panen Lestari Basuki
• Bukit Tiara Tangerang

Products and services

• Grand Tropic Suites Hotel Surabaya A 4-star hotel located in the business district of Surabaya, offering 209 rooms with conference facilities, fitness center, outdoor pool, sauna, jacuzzi, tennis courts, basketball facilities, and a kids club. Serves business travelers and tourists seeking quality hospitality in Surabaya.
• Grand Tropic Suites Hotel (Jakarta) A unique hotel with apartment-style accommodations featuring 188 rooms at Slipi, Jakarta, with lagoon swimming pool, children's pool, health club, spa, massage services, two tennis courts, and billiard facilities. Targets business travelers and tourists seeking apartment-style lodging in Jakarta.
• Puri Casablanca Apartment A distinctive apartment complex with 4 towers located in Jakarta's golden triangle business district (Kuningan), offering long-term and short-term leasing (monthly and daily). Facilities include lagoon pool, children's play areas, tennis courts, mini golf, jogging track, sauna, fitness center, and international preschool. Targets professionals and families seeking premium rental apartments in prime Jakarta locations.
• Wisma Sudirman (PT Panen Lestari Basuki) An office building located at Jalan Jendral Sudirman Kavling 34, Central Jakarta, operating since 1979 in the central business district. Serves corporate tenants in banking, insurance, hotel, and shopping center companies seeking prestigious office locations in Jakarta's CBD.
• Plaza Parahyangan Shopping Center A shopping center located in Bandung, West Java, established in 1983, featuring 6 floors with approximately 450 distro shops and a futsal arena on the 6th floor. Recognized as Bandung's premier distro (distribution store) center. Targets distro operators and retailers seeking specialized retail space in prime Bandung location.
• Bukit Tiara Tangerang Residential Estate A residential estate and commercial area developed by subsidiary PT Graha Mitrasantosa in Tangerang, Banten, featuring low-cost houses for factory workers in surrounding areas. Targets individual buyers and factory workers seeking affordable housing near industrial employment zones.

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves9 records

Expansion highlights3 records

Broad incumbents

• PT Lippo Karawaci Tbk: Large Indonesian listed property company with residential, commercial, hospitality, and healthcare property exposure. Comparable to IPP because both operate across multiple Indonesian real-estate segments including hotels and mixed-use projects.
• PT Summarecon Agung Tbk: One of Indonesia's largest integrated property developers with townships, apartments, malls, and offices. Comparable to IPP because both operate diversified Indonesian property portfolios, though Summarecon is significantly larger and operates integrated townships.
• PT Ciputra Development Tbk: Major Indonesian property developer with residential, commercial, and mixed-use projects across Indonesia. Comparable to IPP because both are diversified Indonesian-listed property companies, though Ciputra operates at materially larger scale.
• PT Agung Podomoro Land Tbk: Indonesian listed property developer focused on apartments, offices, malls, and hotels in Jakarta. Comparable to IPP because both develop and own Indonesian apartments, offices, and retail property, particularly in Jakarta's CBD.

Direct peers

• PT Intiland Development Tbk: Indonesian diversified property developer active in residential, office, apartment, and industrial estate segments. Comparable to IPP due to similar multi-segment Indonesian property strategy and exposure to Greater Jakarta and Surabaya markets.
• PT MNC Land Tbk: Indonesian property and hospitality company operating hotels, resorts, and mixed-use developments. Comparable to IPP because both are Indonesian-listed companies focusing on hospitality and property assets, with overlapping CBD and resort exposure.
• PT Jaya Real Property Tbk: Indonesian listed property developer with diversified exposure to residential, commercial, and mixed-use developments. Comparable to IPP because both are Indonesian-listed diversified property companies operating across multiple real-estate segments with established assets.
• PT Indonesian Paradise Property Tbk: Indonesian-listed property company with hospitality and mixed-use developments including hotels and retail. Closely comparable to IPP because both operate Indonesian hotel and retail properties under similar sub-branded strategies.

Others

• Frasers Property Limited: Singapore-listed diversified property group with hospitality, residential, and commercial assets across Southeast Asia. Comparable to IPP because both operate multi-segment property portfolios with hospitality components, though Frasers operates regionally at far larger scale.

Regional players

• PT Metropolitan Development Tbk: Indonesian property developer with residential and commercial real estate operations. Comparable to IPP because both operate Indonesian listed property businesses across multiple real-estate categories, though Metropolitan is more residential-tilted.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries5 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 INDONESIA PRIMA PROPERTY