35 Largest Real estate Companies in Indonesia

 

35 Largest Real estate Companies in Indonesia- According to the annual report of 2024, there are 35 Largest Real Estate Companies in Indonesia. In general, these companies have a business turnover achieving million US Dollar in 2024.

Of course, many Indonesians are familiar with these real estate companies. Various apartment, housing, condominium, and hotel projects have been built in Indonesia by these real estate companies. Their building products are certainly well acknowledged by the Indonesian people.

Commonly, this is the ranking of real estate companies in Indonesia. We are based on 2 variables, namely the company’s total assets and net profit. The first ranking is based on the assets owned by the company. This asset and liability data is obtained from the balance sheet, the annual report of the Company in 2024.

 

Ranking Table of the 35 Largest Real estate Companies in Indonesia Based on Total Assets in 2024

Rank	Name of Real Estate Companies in Indonesia	Total Assets in 2024	Total Assets in 2024	Total Liabilities in 2024	Total Liabilities in 2024
		(in Trillion Rupiah (IDR))	(in Billion US Dollar (USD))	(in Trillion Rupiah (IDR))	(in Billion US Dollar (USD))
1	Bumi Serpong Damai	IDR 76 trillion	USD 4.6 billion	IDR 28.7 trillion	USD 1.7 billion
2	Lippo Karawaci	IDR 53.7 trillion	USD 3.2 billion	IDR 22.8 trillion	USD 1.4 billion
3	Ciputra Development	IDR 47 trillion	USD 2.8 billion	IDR 22.4 trillion	USD 1.37 billion
4	Pantai Indah Kapuk	IDR 45.3 trillion	USD 2.7 billion	IDR 18.7 trillion	USD 1.1 billion
5	Pakuwon Jati	IDR 35.3 trillion	USD 2.1 billion	IDR 10.6 trillion	USD 0.64 billion
6	Summarecon Agung	IDR 33.5 trillion	USD 2 billion	IDR 19.7 trillion	USD 1.2 billion
7	Agung Podomoro Land	IDR 26.1 trillion	USD 1.6 billion	IDR 12.3 trillion	USD 0.75 billion
8	Alam Sutera Realty	IDR 22 trillion	USD 1.3 billion	IDR 10.6 trillion	USD 0.64 billion
9	Sentul City	IDR 21.1 trillion	USD 1.2 billion	IDR 6 trillion	USD 0.36 billion
10	Bangun Kosambi Sukses	IDR 19 trillion	USD 1.11 billion	IDR 10.7 trillion	USD 0.65 billion
11	PP Properti	IDR 18.2 trillion	USD 1.11 billion	IDR 16 trillion	USD 0.97 billion
12	Jaya Real Property	IDR 14.1 trillion	USD 0.86 billion	IDR 3.98 trillion	USD 0.24 billion
13	Kawasan Industri Jababeka	IDR 14 trillion	USD 0.85 billion	IDR 6.5 trillion	USD 0.39 billion
14	Intiland Development	IDR 13.7 trillion	USD 0.83 billion	IDR 6.95 trillion	USD 0.42 billion
15	Lippo Cikarang	IDR 13.6 trillion	USD 0.82 billion	IDR 7.6 trillion	USD 0.46 billion
16	Modernland Realty	IDR 13.5 trillion	USD 0.82 billion	IDR 10.1 trillion	USD 0.61 billion
17	Plaza Indonesia Realty	IDR 12.7 trillion	USD 0.77 billion	IDR 1.4 trillion	USD 0.0085 billion
18	Bakrieland Development	IDR 8.7 trillion	USD 0.53 billion	IDR 2.7 trillion	USD 0.16 billion
19	Puradelta Lestari	IDR 8.25 trillion	USD 0.5 billion	IDR 1 trillion	USD 0.06 billion
20	Greenwood Sejahtera	IDR 7.8 trillion	USD 0.48 billion	IDR 0.708 trillion	USD 0.043 billion
21	Metropolitan Land	IDR 7.4 trillion	USD 0.45 billion	IDR 1.8 trillion	USD 0.11 billion
22	Adhi Commuter Properti	IDR 6.8 trillion	USD 0.41 billion	IDR 4.2 trillion	USD 0.26 billion
23	Duta Anggada Realty	IDR 6.2 trillion	USD 0.37 billion	IDR 4.7 trillion	USD 0.28 billion
24	Bekasi Fajar Industrial Estate	IDR 5.28 trillion	USD 0.32 billion	IDR 1.4 trillion	USD 0.08 billion
25	Pollux Properties Indonesia	IDR 4.46 trillion	USD 0.27 billion	IDR 2.4 trillion	USD 0.14 billion
26	Roda Vivatex	IDR 3.47 trillion	USD 0.21 billion	IDR 0.408 trillion	USD 0.025 billion
27	Suryamas Dutamakmur	IDR 3.4 trillion	USD 0.20 billion	IDR 0.251 trillion	USD 0.015 billion
28	Perintis Triniti Properti	IDR 2.2 trillion	USD 0.13 billion	IDR 1.8 trillion	USD 0.10 billion
29	Perdana Gapuraprima	IDR 1.9 trillion	USD 0.115 billion	IDR 0.604 trillion	USD 0.036 billion
30	DMS Propertindo	IDR 1.5 trillion	USD 0.09 billion	IDR 0.309 trillion	USD 0.019 billion
31	Makmur Berkah Amanda	IDR 1.3 trillion	USD 0.079 billion	IDR 0.568 billion	USD 0.034 billion
32	Agung Semesta Sejahtera	IDR 1.07 trillion	USD 0.065 billion	IDR 0.021 trillion	USD 0.001 billion
33	Natura City Developments	IDR 1 trillion	USD 0.061 billion	IDR 0.185 trillion	USD 0.011 billion
34	Bumi Citra Permai	IDR 0.915 trillion	USD 0.05 billion	IDR 0.421 trillion	USD 0.025 billion
35	Ristia Bintang Mahkotasejati	IDR 0.759 trillion	USD 0.046 billion	IDR 0.289 trillion	USD 0.017 billion
36	Bima Sakti Pertiwi	IDR 0.587 trillion	USD 0.035 billion	IDR 0.159 trillion	USD 0.0096 billion
37	Nusantara Almazia	IDR 0.583 trillion	USD 0.035 billion	IDR 0.088 trillion	USD 0.005 billion
38	Pudjiadi Prestige	IDR 0.529 trillion	USD 0.032 billion	IDR 0.019 trillion	USD 0.001 billion
39	Bekasi Asri Pemula	IDR 0.132 trillion	USD 0.008 billion	IDR 0.012 trillion	USD 0.0007 billion
Indonesian Rupiah (IDR) - Currency Used in Annual Report of 2024
US Dollar- Converted Currency from Indonesian Rupiah (IDR) to US Dollar (USD)
Source: Annual Report, 2024
Currency Rate: 1 US Dollar (USD) = 16,000 Indonesian Rupiah (IDR)

 

In addition to ranking data related to the Company’s assets and liabilities, we also compile a ranking based on the business performance of real estate companies in 2024. This data is compiled based on the amount of profit earned by real estate companies in 2024.

 

Ranking Table of 35 Largest Real estate Companies in Indonesia Based on Profit / Loss in 2024

 

Rank	Name of Real Estate   Companies Indonesia	Total Revenue	Total Revenue	Net Income/(Loss)	Net Income/(Loss)
		in 2024	in 2024	in 2024	in 2024
		(in Trillion Rupiah (IDR))	(in Billion US Dollar (USD))	(in Trillion Rupiah (IDR))	(in Billion US Dollar (USD))
1	Lippo Karawaci	IDR 11.5 trillion	USD 0.7 billion	IDR 18.7 trillion	USD 1.15 billion
2	Bumi Serpong Damai	IDR 13.8 trillion	USD 0.84 billion	IDR 4.3 trillion	USD 0.26 billion
3	Pakuwon Jati	IDR 6.6 trillion	USD 0.4 billion	IDR 2.4 trillion	USD 0.14 billion
4	Ciputra Development	IDR 11.1 trillion	USD 0.67 billion	IDR 2.3 trillion	USD 0.14 billion
5	Summarecon Agung	IDR 10.6 trillion	USD 0.64 billion	IDR 1.8 trillion	USD 0.11 billion
6	Puradelta Lestari	IDR 2 trillion	USD 0.122 billion	IDR 1.33 trillion	USD 0.081 billion
7	Pantai Indah Kapuk	IDR 2.8 trillion	USD 0.17 billion	IDR 1.26 trillion	USD 0.076 billion
8	Jaya Real Property	IDR 2.94 trillion	USD 0.18 billion	IDR 1.15 trillion	USD 0.07 billion
9	Plaza Indonesia Realty	IDR 1.38 trillion	USD 0.084 billion	IDR 0.997 billion	USD 0.06 billion
10	Bangun Kosambi Sukses	IDR 2.2 trillion	USD 0.134 billion	IDR 1 trillion	USD 0.06 billion
11	Kawasan Industri Jababeka	IDR 4.6 trillion	USD 0.28 billion	IDR 0.770 trillion	USD 0.047 billion
12	Agung Podomoro Land	IDR 5.58 trillion	USD 0.34 billion	IDR 0.77 trillion	USD 0.046 billion
13	Greenwood Sejahtera	IDR 0.067 billion	USD 0.04 billion	IDR 0.073 billion	USD 0.044 billion
14	Metropolitan Land	IDR 2 trillion	USD 0.122 billion	IDR 0.469 billion	USD 0.028 billion
15	Duta Anggada Realty	IDR 0.511 trillion	USD 0.031 billion	IDR 0.296 trillion	USD 0.018 billion
16	Roda Vivatex	IDR 0.530 trillion	USD 0.032 billion	IDR 0.287 trillion	USD 0.017 billion
17	Intiland Development	IDR 2.55 trillion	USD 0.15 billion	IDR 0.174 trillion	USD 0.01 billion
18	Suryamas Dutamakmur	IDR 0.694 trillion	USD 0.04 billion	IDR 0.162 trillion	USD 0.0098 billion
19	Perdana Gapuraprima	IDR 0.517 trillion	USD 0.031 billion	IDR 0.123 trillion	USD 0.007 billion
20	Alam Sutera Realty	IDR 3.4 trillion	USD 0.20 billion	IDR 0.065 trillion	USD 0.004 billion
21	Bekasi Fajar Industrial Estate	IDR 0.457 billion	USD 0.027 billion	IDR 0.058 trillion	USD 0.0035 billion
22	Makmur Berkah Amanda	IDR 0.204 trillion	USD 12.4 million	IDR 0.006 trillion	USD 0.0036 billion
23	Adhi Commuter Properti	IDR 0.300 trillion	USD 0.018 billion	IDR 0.042 trillion	USD 0.0025 billion
24	Pollux Properties Indonesia	IDR 0.486 trillion	USD 0.029 billion	IDR 0.033 trillion	USD 0.0023 billion
25	Modernland Realty	IDR 1 trillion	USD 0.061 billion	IDR 0.027 trillion	USD 0.0016 billion
26	Bumi Citra Permai	IDR 0.100 trillion	USD 0.0061 billion	IDR 0.015 trillion	USD 0.0009 billion
27	Sentul City	IDR 0.744 trillion	USD 0.045 billion	IDR 0.014 trillion	USD 0.00085 billion
28	Natura City Developments	IDR 0.116 trillion	USD 0.007 billion	IDR 0.0069 trillion	USD 0.00004 billion
29	Bima Sakti Pertiwi	IDR 0.052 trillion	USD 0.0035 billion	IDR 0.0045 trillion	USD 0.00027 billion
30	Agung Semesta Sejahtera	IDR 0.003 trillion	USD 0.00018 billion	IDR 0.002 trillion	(USD -0.00012 billion)
31	Pudjiadi Prestige	IDR 0.0041 trillion	USD 0.0025 billion	(IDR -0.003 trillion)	(USD -0.00018 billion)
32	Bekasi Asri Pemula	IDR 0.004 trillion	USD 0.0002 billion	(IDR -0.004 trillion)	(USD -0.00026 billion)
33	Nusantara Almazia	IDR 0.0637 trillion	USD 0.0038 billion	(IDR -0.0089 trillion)	(USD -0.00054 billion)
34	DMS Propertindo	IDR 0.029 trillion	USD 0.0017 billion	(IDR -0.019 trillion)	(USD -0.0011 billion)
35	Ristia Bintang Mahkotasejati	IDR 0.159 trillion	USD 0.0096 billion	(IDR -0.028 trillion)	(USD -0.0017 billion)
36	Bakrieland Development	IDR 1.22 trillion	USD 0.073 billion	(IDR -0.101 trillion)	(USD -0.006 billion)
37	Perintis Triniti Property	IDR 0.216 trillion	USD 0.013 billion	(IDR -0.200 trillion)	(USD -0.0122 billion)
38	PP Properti	IDR 0.458 trillion	USD 0.028 billion	(IDR -1 trillion)	(USD -0.061 billion)
39	Lippo Cikarang	IDR 1.9 trillion	USD 0.11 billion	(IDR -1.6 trillion)	(USD -0.098 billion)
Indonesian Rupiah (IDR) - Currency Used in Annual Report of 2024
US Dollar- Converted Currency from Indonesian Rupiah (IDR) to US Dollar (USD)
Source: Annual Report, 2024
Currency Rate: 1 US Dollar (USD) = 16,000 Indonesian Rupiah (IDR)

 

 

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Brief Description of 20 Largest Real estate Companies from Indonesia in 2024

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1. Bumi Serpong Damai

 

BSD City is one of the largest real estate development companies in Indonesia. The company’s flagship project, BSD City, is an urban design that combines residential, business, and commercial properties. Based on share ownership, BSD City is a subsidiary company of the Sinar Mas Land. To date, BSD City still has strategic land reserves in various key cities in Indonesia, including Jakarta and its surrounding areas, Semarang, Surabaya, Medan, Palembang, Makassar, Manado, Samarinda and Balikpapan. In terms of projects, the company has developed more than 50 townships, residential, commercial, retail, industrial estate, and hospitality properties.

Financially in 2024, based on data from the Company’s annual report, Bumi Serpong Damai recorded a brilliant performance by successfully obtaining total revenue of IDR 13.8 trillion or equivalent to USD 0.84 billion and recording a Net Profit of IDR 4.3 trillion or equivalent to USD 0.26 billion. In terms of financial position, total assets of Bumi Serpong Damai reached IDR 76 trillion or equivalent to USD 4.6 billion with total liabilities of around IDR 28.7 trillion or equivalent to USD 1.7 billion.

 

2. Agung Podomoro Land           

 

Agung Podomoro Land is one of the leading real estate companies in Indonesia. In general, some of the prestigious projects managed by this company include Podomoro City, Kuningan City, Green Bay Pluit, Podomoro City Deli Medan, and Senayan City. In addition, Agung Podomoro Land also develops several high-quality township projects, namely Podomoro Park Bandung and Podomoro Golf View Cimanggis. Based on its history, Agung Podomoro Land (APLN) has experienced the real estate business since 1969 by working on its first project, a housing complex in the Simprug area.

Until 2024, financially, Agung Podomoro Land managed to record a brilliant performance by obtaining total revenue of IDR 5.58 trillion or equivalent to USD 0.34 billion and managed to record a net profit of IDR 0.77 trillion or equivalent to USD 0.046 billion. In terms of financial position, total assets of Agung Podomoro in 2024 Land reached IDR 26.1 trillion or equivalent to USD 1.6 billion with total liabilities of around IDR 12.3 trillion or equivalent to USD 0.75 billion.

 

3. Ciputra Development

 

Founded on October 22, 1981, by Dr. Ir. Ciputra under the name Citra Habitat Indonesia, Ciputra Development has now become one of the leading real estate companies with a variety of real estate products in Indonesia. In 1984, the company developed its first project, Citra Garden Jakarta, which was the forerunner of CitraGarden City Jakarta. To date, the company has developed more than 76 projects, ranging from residential areas, apartments, offices, shopping centers, hospitals, golf courses, spread across 33 cities throughout Indonesia with a land area of more than 7000 hectares (Ha).

Financially in 2024, according to its annual report, in terms of financial position, Ciputra Development has total assets of around IDR 47 trillion or equivalent to USD 2.8 billion with total liabilities of around IDR 22.4 trillion or equivalent to USD 1.37 billion. Related to business performance in 2024, Ciputra Development recorded a brilliant performance by achieving total revenue of around IDR 11.1 trillion or equivalent to USD 0.67 billion and recording a net income/ profit of IDR 2.3 trillion or equivalent to USD 0.14 billion.

 

4. Pakuwon Jati              

 

Based on its history, Pakuwon Jati was founded in 1982 by Alexander Tedja and successfully listed its shares on the Jakarta Stock Exchange (the name before the Indonesia Stock Exchange) in 1988. In general, Pakuwon Jati’s presence in the real estate industry began with the Tunjungan Plaza project, the first modern shopping center in Surabaya, which has been operating since 1986. In 2007, this company began to expand into Jakarta through the development of the Gandaria City Superblock project which has been operating since 2010. Furthermore, Pakuwon also developed the Kota Kasablanka Superblock project. Along with the Company’s business development, Pakuwon Jati has become a leading real estate developer with focus locations in Surabaya, Jakarta, Bekasi, Yogyakarta, Solo, Bali & Batam.

Financially in 2024, according to its annual report, in terms of financial position, total assets of Pakuwon Jati reached IDR 35.3 trillion or equivalent to USD 2.1 billion with total liabilities of IDR 10.6 trillion or equivalent to USD 0.64 billion. Related to business performance in 2024, Pakuwon Jati recorded a satisfactory performance by achieving total revenue of IDR 6.6 trillion or equivalent to USD 0.4 billion and net profit of IDR 2.4 trillion or equivalent to USD 0.14 billion.

 

5. Pantai Indah Kapuk          

PT Pantai Indah Kapuk Dua Tbk formerly PT Pratama Abadi Nusa Industri Tbk (PANI) started its business activities on March 1st, 2001, as a manufacturer in the can packaging industry. In the real estate industry, Pantai Indah Kapuk Dua has some developed some residential projects ( Permata Hijau Residences, Manhattan Residences, Rumah Milenial, Bukit Nimala, Ilona @Pasadena Hills, Pantai Bukit Villa, Pasadena Spring, Pasir Putih Residence, Permata Golf Residence, Sapporo Residence, The Golf Signature) and commercial products (Lau Pa Sat Shop Office, Little Siam Shophouse, Marina Bay Shop Office, Petak 9 Shop Office, River Safari Shop Office, SOHO Riverside Boulevard, SOHO Riverside, Bizpark PIK2, Pasadena Walk Shop Office, SOHO The Bund, Milenial Shop Office, SOHO Wallstreet, Asia Afrika Shop Office, and SOHO Manhattan).

Financially, according to its annual report in 2024, Pantai Indah Kapuk has total assets of around IDR 45.3 trillion or equivalent to USD 2.7 billion with total liabilities of around IDR 18.7 trillion or equivalent to USD 1.1 billion. In terms of business performance in 2024, Pantai Indah Kapuk successfully gained total revenue of around IDR 2.8 trillion or equivalent to USD 0.17 billion with net income of around IDR 1.26 trillion or equivalent to USD 0.076 billion.

 

6. Puradelta Lestari       

   

Puradelta Lestari is a real estate company which is a joint venture between Sinar Mas Land and Sojitz Corporation from Japan. In general, this company develops Kota Deltamas which is an integrated modern area of ± 3,200 hectares consisting of industrial areas, residential areas, and commercial areas located in Central Cikarang, Bekasi Regency, West Java, Indonesia. Financially, based on the income statement, in 2024, Puradelta Lestari managed to achieve total revenue of IDR 2 trillion or equivalent to USD 0.122 billion and managed to record a net profit of IDR 1.33 trillion or equivalent to USD 0.081 billion. In terms of financial position, total assets of Puradelta Lestari reached IDR 8.25 trillion or equivalent to USD 0.5 billion with total liabilities of around IDR 1 trillion or equivalent to USD 0.06 billion.

 

7. Alam Sutera Realty      

 

Alam Sutera Realty is one of the leading developers in Indonesia. The company started its first project by building and developing the Alam Sutera integrated area in 1994. This area has an area of 800 hectares located in Serpong, Tangerang. By the end of 2016, Alam Sutera had launched 37 residential clusters and 2 apartment buildings in Alam Sutera township.

Along with its business success, Alam Sutera also developed a project in Suverna Sutera with a land development license of 2,600 hectares in Pasar Kemis Tangerang. Some of the works produced by Alam Sutera Realty include The Prominence office building and Paddington Heights apartment. In addition, the company is also developing the Kota Ayodhya project in Cikokol, namely the construction of Jade Tower, Coral Tower, Sienna Tower, and Indigo Tower. The project located in Jakarta’s business district is The Tower which was completed in 2016. Meanwhile, outside Java, the company also has a project in Ungasan, Bali called Garuda Wisnu Kencana (GWK) Park.

Financially in 2024, according to its annual report, Alam Sutera managed to record a positive performance by recording total revenue of IDR 3.4 trillion or equivalent to USD 0.20 billion and managed to obtain a net profit of IDR 0.065 trillion or equivalent to USD 0.004 billion. In terms of financial position, total assets of IDR 22 trillion or equivalent to USD 1.3 billion with total liabilities of around IDR 10.6 trillion or equivalent to USD 0.64 billion.

 

8. Jaya Real Property       

Jaya Real Property is a public company engaged in the real estate sector and headquartered in South Tangerang, Banten, Indonesia. The company was founded in 1979. Until now, the largest shareholder of Jaya Real estate is Pembangunan Jaya Ancol (Pembangunan Jaya Group). As of 2024, the company has developed various projects on more than 3,000 hectares of land located in the Greater Jakarta area.

Financially in 2024, according to its annual report, Jaya Real estate managed to achieve total revenue of USD 170 million with a net profit of USD 58 million. In terms of financial position, the total assets of Jaya Real reached IDR 14.1 trillion or equivalent to USD 0.86 billion with total liabilities of around IDR 3.98 trillion or equivalent to USD 0.24 billion.

 

9. Summarecon Agung              

Summarecon Agung, or commonly known as Summarecon, was founded in 1975 by Mr. Soetjio Nagaria and his associates. The company’s initial project was the development of 10 hectares of swamp land in the Jakarta area and successfully transformed Kelapa Gading into one of Jakarta’s residential and commercial districts. In general, Summarecon focuses on developing real estate businesses mainly in Serpong, Bekasi, Bandung, Karawang, Makassar and Bogor.

Financially in 2024, according to its annual report, Summarecon Agung recorded a positive performance by achieving revenue of USD 381 million with a net profit of USD 47 million. In terms of financial position, Summarecon Agung has total assets of around IDR 33.5 trillion or equivalent to USD 2 billion and total liabilities of around IDR 19.7 trillion or equivalent to USD 1.2 billion.

 

10. Plaza Indonesia Realty           

 

Plaza Indonesia Realty began operations in 1983 with the vision of building high quality prestigious properties in premium locations. In general, Plaza Indonesia Realty started its business by building the Plaza Indonesia complex which consists of Plaza Indonesia Shopping Center, The Plaza Office Tower, and Grand Hyatt Hotel Jakarta.

Financially, by 2024, Plaza Indonesia Realty can achieve total revenue of IDR 1.38 trillion or equivalent to USD 0.084 billion and net profit of IDR 0.997 billion or equivalent to USD 0.06 billion. In terms of financial position in 2024, total assets of Plaza Indonesia Realty are around IDR 12.7 trillion or equivalent to USD 0.77 billion with total liabilities of around IDR 1.4 trillion or equivalent to USD 0.0085 billion.

 

11.  Pollux Properties Indonesia

 

Pollux Properties Indonesia was established on December 16, 2014. One of Pollux Properties’ projects is the construction of the World Capital Tower office building on 8,000 square meters of land in Mega Kuningan, South Jakarta. In addition to the above project, Pollux is also working on several projects namely Pollux Amarsvati, Pollux Chadstone, Pollux Meisterstadt, Pollux Skysuites, and Pollux Technopolis.

In terms of financial condition in 2024, Pollux Properties Indonesia managed to achieve total revenue of around IDR 0.486 trillion or equivalent to USD 0.029 billion and Net Profit of IDR 0.033 trillion or equivalent to USD 0.0023 billion. Related to financial position, total assets of Pollux Properties reached IDR 4.46 trillion or equivalent to USD 0.27 billion with total liabilities of around IDR 2.4 trillion or equivalent to USD 0.14 billion.

 

12. Metropolitan Land   

Historically, in 1970, Metropolitan Development (MD) was founded by seven Indonesian entrepreneurs namely Ir. Ismail Sofyan, Ir. Budi Brasali, Drs Budiman Kusika, H. Subagdja Prawata, Ir. Soekrisman, Ir. H. Secakusuma and Ir. Ciputra. Currently, as of 2024, Metland is developing seven residential projects spread across Jakarta, Bekasi, and Tangerang with lower, middle, and upper market segments. Furthermore, Metropolitan Land also develops commercial projects such as shopping centers and hotels including Metropolitan Mall Bekasi, Grand Metropolitan, and Metropolitan Mall Cileungsi.

Financially in 2024, according to its annual report, Metropolitan Land was able to achieve revenue of USD 92 million with a net profit of USD 27 million. In terms of financial position, total assets of Metropolitan Land reached IDR 7.4 trillion or equivalent to USD 0.45 billion with total liabilities of around IDR 1.8 trillion or equivalent to USD 0.11 billion.

 

13. Lippo Cikarang           

Lippo Cikarang was first established under the name Desa Dekalb, on July 20, 1987. In 1992, the Company changed its name to Lippo City Development. Financially, according to its annual report in 2024, Lippo Cikarang successfully gained total revenue of IDR 1.9 trillion or equivalent to USD 0.11 billion but unfortunately suffered net losses of around IDR -1.6 trillion or equivalent to USD -0.098 billion. In terms of financial position on the balance sheet, Lippo Cikarang has total assets of around IDR 13.6 trillion or equivalent to USD 0.82 billion with total liabilities of around IDR 7.6 trillion or equivalent to USD 0.46 billion.

 

14. Roda Vivatex

 

Roda Vivatex is a real estate company headquartered in Jakarta. Based on its history, Roda Vivatex was founded on September 27, 1980, by Sutiadi Widjaja. To date, Roda Vivatex manages four office buildings Menara Bank Danamon, Menara Standard Chartered, PHE Tower, and RDTX Place.

Financially in 2024, according to its annual report, Roda Vivatex successfully gained total revenue of around IDR 0.530 trillion or equivalent to USD 0.032 billion with a net profit of IDR 0.287 trillion or equivalent to USD 0.017 billion. In terms of financial position, total assets of Roda Vivatex reached IDR 3.47 trillion or equivalent to USD 0.21 billion and total liabilities of around IDR 0.408 trillion or equivalent to USD 0.025 billion.

 

15. Intiland Development      

       

Intiland Development is a real estate company headquartered in Jakarta. Some of Intiland’s projects include the Wisma Sarinah building, Graha Pratama Building and Menteng Prada. In addition, Intiland has also successfully developed several projects spread across several cities in Indonesia including Pantai Mutiara Housing in Pluit, North Jakarta, Taman Semanan Indah Housing in Jakarta, Darmo Satellite City in Surabaya, and Ngoro Industrial Park in Mojokerto.

Financially in 2024, according to its annual report, Intiland Development managed to achieve total revenue of IDR 2.55 trillion or equivalent to USD 0.15 billion with a profit of IDR 0.174 trillion or equivalent to USD 0.01 billion. In terms of financial position, total assets of Intiland Development reached IDR 13.7 trillion or equivalent to USD 0.83 billion with total liabilities of around IDR 6.95 trillion or equivalent to USD 0.42 billion.

 

16. Sentul City       

PT Sentul City Tbk develops Sentul City which is one of the integrated residential areas in the Bogor area and has an area of ​​3,100 hectares (Ha). Financially, according to the annual report of 2024, Sentul City has total assets of around IDR 21.1 trillion or equivalent to USD 1.2 billion with total liabilities of around IDR 6 trillion or equivalent to USD 0.36 billion. In terms of business performance in 2024, Sentul City successfully gained total revenue of around IDR 0.744 trillion or equivalent to USD 0.045 billion with net income of around IDR 0.014 trillion or equivalent to USD 0.00085 billion.

 

17. Bangun Kosambi Sukses    

PT Bangun Kosambi Sukses was established April 3, 2000. In Indonesia, Bangun Kosambi Sukses has developed some projects including Permata Hijau Residences, Bizpark PIK 2, Soho Manhattan, The Bund, Millennial Shop Office, Manhattan Residences, Soho Wall Street, Asia Afrika Shop Office, Millennial Houses, Petak 9 Shop Office, Little Siam Shophouse, and Menara Syariah.

Financially, in 2024, Bangun Kosambi Sukses has total assets of IDR 19 trillion or equivalent to USD 1.11 billion and total liabilities of around IDR 10.7 trillion or equivalent to USD 0.65 billion. In terms of business performance in 2024, Bangun Kosambi Sukses has total revenue of around IDR 2.2 trillion or equivalent to USD 0.134 billion with net income of around IDR 1 trillion or equivalent USD 0.06 billion.

 

18. PP Properti      

PT PP Properti Tbk as one of the subsidiaries of PT PP (Persero) Tbk which develops three business lines, namely Residential, Mall and Edutainment, Hotels spread throughout Indonesia. Specifically, some of the project of PP Properti are residential (Grand Kamala Lagoon, Grand Sungkono Lagoon), MALL & edutainment (Lagoon Avenue Bekasi and Lagoon Avenue Sungkono), and Hotel (Park Hotel Jakarta and Prime Hotel Bandung).

According to its financial condition in 2024, PP Properti has total assets of IDR 18.2 trillion or equivalent to USD 1.11 billion and total liabilities of around IDR 16 trillion or equivalent to USD 0.97 billion. In terms of business performance in 2024, PP Properti successfully gained total revenue IDR 0.458 trillion or equivalent to USD 0.028 billion but unfortunately suffered net loss of around IDR -1 trillion or equivalent to USD -0.061 billion.

 

19. Kawasan Industri Jababeka           

PT Jababeka Tbk was established in 1989. Specifically, The Jababeka developed main projects, namely a 5,600-hectare integrated city, Kota Jababeka in Cikarang, with a population of around 1 million people. Kota Jababeka has developed from a green field into a community. The city is located 35 kilometers east of Jakarta, strategically located along the Bekasi-Cikampek corridor, consisting of industrial areas for light, medium and automotive industries.

In terms of financial aspects of 2024, Kawasan Industri Jababeka has total assets of around IDR 14 trillion or equivalent to USD 0.85 billion with total liabilities of around IDR 6.5 trillion or equivalent to USD 0.39 billion. In terms of business performance in 2024, Kawasan Industri Jababeka successfully gained total revenue of around IDR 4.6 trillion or equivalent to USD 0.28 billion with net income of around IDR 0.770 trillion or equivalent to USD 0.047 billion.

 

20. Modernland Realty   

PT Modernland Realty Tbk was established in 1983. Specifically, some of the project of Modernland Realty are township-development (Kota Modern, Jakarta Garden City, Modern Bekasi Residential and Industrial Park, Modernland Cilejit, Vasaka City, Residential Development), residential-development (Modern Hill, Modern Park, Puri Teratai, Puri Mas, Green Valley, Puri Kencana, and Industrial Town Development), industrial-town-development (ModernCikande Industrial Estate I & II, Hospitality & Commercial), and hospitality-and-commercial (Novotel Gajah Mada, Modern Golf and Country Club, Heritage Walk, Hotel Swiss-Belinn ModernCikande).

Financially, in the year of 2024, Modernland Realty has total assets of around IDR 13.5 trillion or equivalent to USD 0.82 billion with total liabilities of around IDR 10.1 trillion or equivalent to USD 0.61 billion. Related to business performance in 2024, Modernland Realty successfully gained total revenue of around IDR 1 trillion or equivalent to USD 0.061 billion with net income of around IDR 0.027 trillion or equivalent to USD 0.0016 billion.

 

21. Bakrieland Development    

PT Bakrieland Development Tbk (Bakrieland), one of the companies of the Bakrie Business Group, operates in the integrated property sector which focuses on property development and operations. The Company's projects are spread across key areas in Jakarta, Bogor, Yogyakarta, Lampung, and Sidoarjo. Specifically, some of the project developed by Bakrie Group are The Groove Suites, The Alana Hotel and Conference Hotel Yogyakarta, Aston Bogor Hotel, Grand Elty Krakatoa, Jungle Waterpark (Bogor), Aston Sidoarjo City and Conference, Elite Club (Jakarta) and others.

Bakrieland Development has total assets of IDR 8.7 trillion or equivalent to USD 0.53 billion with total liabilities of around IDR 2.7 trillion or equivalent to USD 0.16 billion. In terms of business performance in 2024, Bakrieland Development successfully gained total revenue of around IDR 1.22 trillion or equivalent to USD 0.073 billion but suffered net losses of around IDR -0.101 trillion or equivalent to USD -0.006 billion.

 

22. Adhi Commuter Properti     

Adhi Commuter Properti is a subsidiary of the State-Owned Enterprise (BUMN) PT Adhi Karya (Persero), Tbk. which operates in the field of Property, Hospitality & Support. As of 2024, Adhi Commuter Property has developed 11 property projects in Indonesia.

Financially, according to its annual report in 2024, Adhi Commuter Properti has total assets of IDR 6.8 trillion or equivalent to USD 0.41 billion with total liabilities of around IDR 4.2 trillion or equivalent to USD 0.26 billion. In terms of business performance in 2024, Adhi Commuter Properti successfully gained total revenue of around IDR 0.300 trillion or equivalent to USD 0.018 billion with net income of around IDR 0.042 trillion or equivalent to USD 0.0025 billion.

 

23. Duta Anggada Realty

PT Duta Anggada Realty Tbk was founded in 1983. As of 2024, some completed property projects of Duta Anggada Realty are Citywalk, Sudirman, Komp. Panjaitan, Plaza Bapindo, Plaza Chase, Plaza Jatinegara. Financially, according to its annual report, Duta Anggada Realty has total assets of around IDR 6.2 trillion or equivalent to USD 0.37 billion with total liabilities of around IDR 4.7 trillion or equivalent to USD 0.28 billion. In terms of business performance in 2024, Duta Anggada Realty successfully gained total revenue of around IDR 0.511 trillion or equivalent to USD 0.031 billion with net income of around IDR 0.296 trillion or equivalent to USD 0.018 billion.

 

24. Bekasi Fajar Industrial Estate

Histirally, Bekasi Fajar Industrial was founded in 1989. Commonly, the leading project of Bekasi Fajar is BeFa Industrial City MM2100 in Jabodetabek, which provides a ready-to-build industrial area.

Financially, in 2024, according to its annual report, Bekasi Fajar Industrial Estate has total assets of around IDR 5.28 trillion or equivalent to USD 0.32 billion with total liabilities of around IDR 1.4 trillion or equivalent to USD 0.08 billion. In terms of business performance in 2024, Bekasi Fajar Industrial Estate successfully gained total revenue of around IDR 0.457 billion or equivalent to USD 0.027 billion with net income of around IDR 0.058 trillion or equivalent to USD 0.0035 billion.

 

The Rank of 15 Largest Real estate Companies in Indonesia Based on Total Assets in 2024

 

The Rank of 15 Largest Real estate Companies in Indonesia Based on Net Income in 2024

 

 

Bibliography of 35 Largest Real estate Companies in Indonesia in 2024

 

Lippo Karawaci. 2025. Annual Report 2024. Accessed via https://www.lippokarawaci.co.id/investor-center/annual-reports on June 9th, 2025. 

Bumi Serpong Damai. 2025. Annual Report 2024. Accessed via https://www.bsdcity.com/investor/annual-reports/ on June 9th, 2025.  

Pakuwon Jati. 2025. Annual Report 2024. Accessed via https://www.pakuwonjati.com/en/investors/2/annual-report on June 9th, 2025.  

Ciputra Development. 2025. Annual Report 2024. Accessed via https://ciputradevelopment.com/investor-relations/ on June 9th, 2025.  

Summarecon Agung. 2025. Annual Report 2024. Accessed via https://www.summarecon.com/id/investor-info/annual-reports on June 9th, 2025.  

Puradelta Lestari. 2025. Annual Report 2024. Accessed via https://deltamas.id/en/investor-relations/ on June 9th, 2025.

Pantai Indah Kapuk. 2025. Annual Report 2024. Accessed via https://www.pantaiindahkapukdua.com/finacialstatement.html on June 9th, 2025. 

Jaya Real Property. 2025. Annual Report 2024. Accessed via https://www.jayaproperty.com/investor on June 9th, 2025.

Plaza Indonesia Realty. 2025. Annual Report 2024. Accessed via https://www.plazaindonesiarealty.com/download on June 9th, 2025.

Bangun Kosambi Sukses. 2025. Annual Report 2024. Accessed via https://www.cbdpik2.com/finacialstatement.html on June 9th, 2025. 

Kawasan Industri Jababeka. 2025. Annual Report 2024. Accessed via https://www.jababeka.com/id/hubungan-investor-tata-kelola/  on June 9th, 2025.  

Agung Podomoro Land. 2025. Annual Report 2024. Accessed via https://www.agungpodomoroland.com/en/investor-relation/view/161/annual-reports on June 9th, 2025.  

Greenwood Sejahtera. 2025. Annual Report 2024. Accessed via https://www.greenwoodsejahtera.com/reports.php?ID on June 9th, 2025.  

Metropolitan Land. 2025. Annual Report 2024. Accessed via https://metropolitanland.com/id/annual on June 9th, 2025.

Duta Anggada Realty. 2025. Annual Report 2024. Accessed via https://www.dutaanggadarealty.com/home/showanual on June 9th, 2025.  

Roda Vivatex. 2025. Annual Report 2024. Accessed via https://www.rodavivatex.co.id/annual-report/ on June 9th, 2025.

Intiland Development. 2025. Annual Report 2024. Accessed via https://investor.intiland.com/annual-reports/ on June 9th, 2025.

Suryamas Dutamakmur. 2025. Annual Report 2024. Accessed via https://www.rancamaya.com/dev/content/view/en/352-0-annual-report   on June 9th, 2025. 

Perdana Gapuraprima. 2025. Annual Report 2024. Accessed via https://gapuraprima.com/laporan-tahunan/   on June 9th, 2025.

Alam Sutera Realty. 2025. Annual Report 2024. Accessed via https://alamsuterarealty.co.id/investor/annual.report   on June 9th, 2025.  

Bekasi Fajar Industrial Estate. 2025. Annual Report 2024. Accessed via https://befa.id/financial-information/   on June 9th, 2025.

Makmur Berkah Amanda. 2025. Annual Report 2024. Accessed via https://www.mbagroup.id/investor  on June 9th, 2025.

Adhi Commuter Properti. 2025. Annual Report 2024. Accessed via https://www.adcp.co.id/investor/financial-reports on June 9th, 2025.   

Pollux Properties Indonesia. 2025. Annual Report 2024. Accessed via https://www.idx.co.id/StaticData/NewsAndAnnouncement/ANNOUNCEMENTSTOCK/From_EREP/202404/edb74eec0c_d0aaba12db.pdf   on June 9th, 2025.  

Modernland Realty. 2025. Annual Report 2024. Accessed via https://www.modernland.co.id/investor-center  on June 9th, 2025.

Bumi Citra Permai. 2025. Annual Report 2024. Accessed via https://bumicitrapermai.com/investor/  on June 9th, 2025.

Sentul City. 2025. Annual Report 2024. Accessed via https://sentulcity.co.id/investor/annual_financial_report  on June 9th, 2025.  

Natura City Developments. 2025. Annual Report 2024. Accessed via https://naturacity.co.id/en/reports/category/annual-report/   on June 9th, 2025.  

Bima Sakti Pertiwi. 2025. Annual Report 2024. Accessed via https://bimasaktipertiwi.com/hubungan-investor/laporantahunan/  on June 9th, 2025.  

Agung Semesta Sejahtera. 2025. Annual Report 2024. Accessed via https://www.agungsemestasejahtera.com/investor   on June 9th, 2025.  

Pudjiadi Prestige. 2025. Annual Report 2024. Accessed via https://pudjiadiprestige.co.id/id/investor/annual_reports   on June 9th, 2025.  

Bekasi Asri Pemula. 2025. Annual Report 2024. Accessed via https://www.bekasiasripemula.co.id/reports.html  on June 9th, 2025.  

Nusantara Almazia. 2025. Annual Report 2024. Accessed via https://www.nusantara-almazia.com/investor-relation/  on June 9th, 2025.  

DMS Propertindo. 2025. Annual Report 2024. Accessed via https://www.dmspropertindo.com/investor-relations on June 9th, 2025.  

Ristia Bintang Mahkotasejati. 2025. Annual Report 2024. Accessed via https://ristiagroup.com/id/annualreport  on June 9th, 2025.

Bakrieland Development. 2025. Annual Report 2024. Accessed via https://bakrieland.com/id_corporateinfo/integratedannualreports   on June 9th, 2025.  

Perintis Triniti Property. 2025. Annual Report 2024. Accessed via https://trinitiland.com/annual-report-sustainability-report/  on June 9th, 2025. 

PP Properti. 2025. Annual Report 2024. Accessed via https://pp-properti.com/en/investor-information/annual-reports  on June 9th, 2025.  

Lippo Cikarang. 2025. Annual Report 2024. Accessed via https://www.lippo-cikarang.com/investor/  on June 9th, 2025.