30 Largest Real estate Companies in Indonesia
30 Largest Real estate Companies in Indonesia- According to the annual report of 2022, there are 30 Largest Real Estate Companies in Indonesia. In general, these companies have a business turnover achieving million US Dollar in 2022.
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 ackowledged by the Indonesian people.
Commonly, this is the ranking of real estate companies in Indonesia. We ranked 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, annual report of the Company in 2022.
Ranking Table of the 30 Largest Real estate Companies in Indonesia Based on Assets
| Rangking | Nama Perusahaan Properti | Assets | Assets | Liabilities | Liabilities |
|---|---|---|---|---|---|
| (in Billion Rupiah (IDR)) | (in Billion US Dollar (USD)) | (in Billion Rupiah (IDR)) | (in Billion US Dollar (USD)) | ||
| 1 | PT Bumi Serpong Damai Tbk | 64,999 | 4.33 | 26,953 | 1.7969 |
| 2 | PT Lippo Karawaci Tbk | 49,870 | 3.32 | 30,731 | 2.0487 |
| 3 | PT Ciputra Development Tbk | 41,902 | 2.79 | 20,989 | 1.3993 |
| 4 | PT Pakuwon Jati Tbk | 30,602 | 2.04 | 9,884 | 0.6589 |
| 5 | PT Agung Podomoro Land Tbk | 28,617 | 1.91 | 16,148 | 1.0765 |
| 6 | PT Summarecon Agung Tbk | 28,433 | 1.90 | 16,683 | 1.1122 |
| 7 | PT Alam Sutera Realty Tbk | 22,298 | 1.49 | 11,656 | 0.7771 |
| 8 | PT PP Properti Tbk | 21,812 | 1.45 | 17,257 | 1.1505 |
| 9 | PT Sentul City Tbk | 16,721 | 1.11 | 6,398 | 0.4265 |
| 10 | PT Intiland Development Tbk | 16,351 | 1.09 | 10,136 | 0.6757 |
| 11 | PT Modernland Realty Tbk | 13,528 | 0.90 | 9,302 | 0.6201 |
| 12 | PT Kawasan Industri Jababeka Tbk | 13,110 | 0.87 | 6,605 | 0.4403 |
| 13 | PT Plaza Indonesia Realty Tbk | 12,369 | 0.82 | 1,324 | 0.0883 |
| 14 | PT Jaya Real Property Tbk | 12,251 | 0.82 | 3,619 | 0.2413 |
| 15 | PT Lippo Cikarang Tbk | 9,349 | 0.62 | 2,654 | 0.1769 |
| 16 | PT Bakrieland Development Tbk | 9,913 | 0.66 | 2,671 | 0.1781 |
| 17 | PT Greenwood Sejahtera Tbk | 7,788 | 0.52 | 761 | 0.0507 |
| 18 | PT Metropolitan Land Tbk | 6,735 | 0.45 | 1,981 | 0.1321 |
| 19 | PT Puradelta Lestari Tbk | 6,623 | 0.44 | 898 | 0.0599 |
| 20 | PT Adhi Commuter Properti Tbk | 6,322 | 0.42 | 3,864 | 0.2576 |
| 21 | PT Duta Anggada Realty Tbk | 6,463 | 0.43 | 4,380 | 0.2920 |
| 22 | PT Bekasi Fajar Industrial Estate | 6,078 | 0.41 | 1,749 | 0.1166 |
| 23 | PT Pollux Properties Indonesia Tbk | 4,845 | 0.32 | 3,146 | 0.2097 |
| 24 | PT Roda Vivatex Tbk | 3,367 | 0.22 | 414 | 0.0276 |
| 25 | PT Perdana Gapuraprima Tbk | 1,781 | 0.12 | 602 | 0.0401 |
| 26 | PT DMS Propertindo Tbk | 1,542 | 0.10 | 303 | 0.0202 |
| 27 | PT Agung Semesta Sejahtera Tbk | 1,080 | 0.07 | 20 | 0.0013 |
| 28 | PT Makmur Berkah Amanda Tbk | 966 | 0.06 | 313 | 0.0209 |
| 29 | PT Natura City Developments Tbk | 933 | 0.06 | 79 | 0.0053 |
| 30 | PT Ristia Bintang Mahkotsejati Tbk | 717 | 0.05 | 198 | 0.0132 |
| 31 | PT Pudjiadi Prestige Tbk | 651 | 0.04 | 70 | 0.0047 |
| 32 | PT Nusantara Almazia Tbk | 605 | 0.04 | 92 | 0.0061 |
| 33 | PT Bima Sakti Pertiwi Tbk | 582 | 0.04 | 159 | 0.0106 |
| 34 | PT Bekasi Asri Pemula Tbk | 135 | 0.01 | 6 | 0.0004 |
| Rupiah - Currency in Rupiah | |||||
| US Dollar- Converted Currency From Indonesian Rupiah (IDR) to US Dollar (USD) | |||||
| Source: Annual Report, 2022 | |||||
| Currency Rate : 1 US Dollar (USD) = 15,000 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 2022. This data is compiled based on the amount of profit earned by real estate companies in 2022.
Ranking Table of 30 Largest Real estate Companies in Indonesia Based on Profit / Loss
| Rank | Name of Real Estate Companies in Indonesia | Revenue | Revenue | Profit / Net Income | Profit / Net Income |
|---|---|---|---|---|---|
| (in Billion Rupiah (IDR)) | (in Million US Dollar (USD)) | (in Billion Rupiah (IDR)) | (in Million US Dollar (USD)) | ||
| 1 | Bumi Serpong Damai | 10,235 | 682.33 | 2,656 | 177.07 |
| 2 | Agung Podomoro Land | 8,663 | 577.53 | 2,268 | 151.20 |
| 3 | Ciputra Development | 9,126 | 608.40 | 2,003 | 133.53 |
| 4 | Pakuwon Jati | 5,987 | 399.13 | 1,831 | 122.07 |
| 5 | Puradelta Lestari | 1,932 | 128.80 | 1,218 | 81.20 |
| 6 | Alam Sutera Realty | 4,493 | 299.53 | 1,098 | 73.20 |
| 7 | Jaya Real Property | 2,558 | 170.53 | 881 | 58.73 |
| 8 | Summarecon Agung | 5,719 | 381.27 | 717 | 47.80 |
| 9 | Plaza Indonesia Realty | 1,096 | 73.07 | 557 | 37.13 |
| 10 | Pollux Properties Indonesia | 339 | 22.60 | 468 | 31.20 |
| 11 | Metropolitan Land | 1,384 | 92.27 | 417 | 27.80 |
| 12 | Lippo Cikarang | 1,267 | 84.47 | 302 | 20.13 |
| 13 | Pudjiadi Prestige | 471 | 31.40 | 279 | 18.60 |
| 14 | Roda Vivatex | 509 | 33.93 | 270 | 18.00 |
| 15 | Intiland Development | 3,148 | 209.87 | 191 | 12.73 |
| 16 | Adhi Commuter Properti | 593 | 39.53 | 105 | 7.00 |
| 17 | Perdana Gapuraprima | 370 | 24.67 | 76 | 5.07 |
| 18 | Modernland Realty | 1,098 | 73.20 | 41 | 2.73 |
| 19 | Kawasan Industri Jababeka | 2,720 | 181.33 | 40 | 2.67 |
| 20 | Makmur Berkah Amanda | 137 | 9.13 | 34 | 2.27 |
| 21 | Bekasi Fajar Industrial Estate | 542 | 36.13 | 33 | 2.20 |
| 22 | Greenwood Sejahtera | 57 | 3.80 | 31 | 2.07 |
| 23 | PP Properti | 1,704 | 113.60 | 24 | 1.60 |
| 24 | Natura City Developments | 36 | 2.40 | 21 | 1.40 |
| 25 | Nusantara Almazia | 84 | 5.60 | 1 | 0.07 |
| 26 | Bekasi Asri Pemula | 3 | 0.20 | (- 3 ) | (-0.2) |
| 27 | Bima Sakti Pertiwi | 54 | 3.60 | (-3 ) | (-0.2) |
| 28 | Agung Semesta Sejahtera | 2 | 0.13 | (-3 ) | (-0.2) |
| 29 | DMS Propertindo | 20 | 1.33 | (-21 ) | (-1.4) |
| 30 | Ristia Bintang Mahkotsejati | 115 | 7.67 | (-39 ) | (-2.6) |
| 31 | Sentul City | 672 | 44.80 | (-167 ) | (-11.13) |
| 32 | Duta Anggada Realty | 330 | 22.00 | (-427 ) | (-28.466) |
| 33 | Lippo Karawaci | 14,808 | 987.20 | (-588 ) | (-39.2) |
| 34 | Bakrieland Development | 1,027 | 68.47 | (-789 ) | (-52.6) |
| Rupiah - Currency in Rupiah | |||||
| US Dollar- Converted Currency From Indonesian Rupiah (IDR) to US Dollar (USD) | |||||
| Source: Annual Report, 2022 | |||||
| Currency Rate : 1 US Dollar (USD) = 15,000 Rupiah (IDR) | |||||
Brief Description of 15 Largest Real estate Companies in Indonesia
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 township, residential, commercial, retail, industrial estate and hospitality properties.
Financially in 2022, based on data from the Company’s annual report, Bumi Serpong Damai recorded a brilliant performance by successfully obtaining revenue of USD 622 million and recording a Net Profit of USD 177 million.
2. Agung Podomoro Land
Agung Podomoro Land is one of the leader real estate companies in Indonesia. In general, some of the prestigious projects handled 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 in the real estate business since 1969 by working on its first project, a housing complex in the Simprug area. Until 2022, financially, Agung Podomoro Land managed to record a brilliant performance by obtaining revenue of USD 577 million and managed to record a net profit of USD 151 million.
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 2022, Ciputra Development recorded a brilliant performance by achieving revenue of around USD 608 million and recording a net profit of USD 133 million.
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 2022, Pakuwon Jati recorded a good performance by achieving revenue of USD 399 million and net profit of USD 122 million.
5. 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 2022, Puradelta Lestari managed to achieve revenue of USD 128 million and managed to record a net profit of USD 81 million.
6.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 2022, Alam Sutera managed to record a positive performance by recording revenue of USD 299 million and managed to obtain a net profit of USD 73 million.
7.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). The company has developed various projects on more than 3,000 hectares of land located in the Greater Jakarta area. Financially in 2022, Jaya Real Real estate managed to achieve revenue of USD 170 million with a net profit of USD 58 million.
8. 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 business mainly in Serpong, Bekasi, Bandung, Karawang, Makassar and Bogor. Financially in 2022, Summarecon Agung recorded a positive performance by achieving revenue of USD 381 million with a net profit of USD 47 million.
9. 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 2022, Plaza Indonesia Realty is able to achieve revenue of USD 73 million and net profit of USD 37 million.
10. 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. Financially in 2022, Pollux Properties Indonesia managed to achieve revenue of around USD 22 million and Net Profit of USD 31 billion.
11. Metropolitan Land
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. Financially in 2022, Metropolitan Land was able to achieve revenue of USD 92 million with a net profit of USD 27 million.
12. 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, in 2022, Lippo Cikarang achieved revenue of USD 84 million and net profit of USD 20 million.
13. Pudjiadi Prestige
Pudjiadi Prestige is one of the real estate developers in Indonesia, with a track record dating back to 1980. Historically founded by Mr. Sjukur Pudjiadi, the Jayakarta Group has now evolved into one of the major developers and players in the hospitality industry in Indonesia. Some of the works of this real estate company include Jayakarta Hotel, Jayakarta Plaza, Senopati Apartment. Financially in 2022, Pudjiadi Prestige is able to achieve revenue of USD 31 million Rupiah and Net Profit of USD 18 million.
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 2022, Roda Vivatex managed to achieve revenue of USD 33 million with a net profit of USD 18 million.
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 2022, Intiland Development managed to achieve revenue of USD 209 million with a profit of USD 12 million.
Bibliography of 30 Largest Real estate Companies in Indonesia
Bumi Serpong Damai. Annual Report 2022. Accessed https://www.bsdcity.com/investor/financial-reports via on October 3rd, 2023.
Lippo Karawaci. Annual Report 2022. Accessed https://www.lippokarawaci.co.id/investor-center/annual-reports via on October 3rd, 2023.
Ciputra Development. Annual Report 2022. Accessed via https://ciputradevelopment.com/id/hubungan-investor/ on October 3rd, 2023.
Pakuwon Jati. Annual Report 2022. Accessed via https://www.pakuwonjati.com/en/investors/2/annual-report on October 3rd, 2023.
Agung Podomoro Land. Annual Report 2022. Accessed via on October 3rd, 2023.
Summarecon Agung. Annual Report 2022. Accessed via https://www.summarecon.com/investor-info/annual-reports on October 3rd, 2023.
Alam Sutera Realty. Annual Report 2022. Accessed via https://www.agungpodomoroland.com/en/investor-relation/view/161/annual-reports on October 3rd, 2023.
PP Properti. Annual Report 2022. Accessed via https://pp-properti.com/en/investor-information/annual-reports on October 3rd, 2023.
Sentul City . Annual Report 2022. Accessed via https://www.sentulcity.co.id/investor/annual_financial_report on October 3rd, 2023.
Intiland Development . Annual Report 2022. Accessed via https://investor.intiland.com/annual-reports/ on October 3rd, 2023.
Modernland Realty . Annual Report 2022. Accessed via https://www.modernland.co.id/investor-center on October 3rd, 2023.
Kawasan Industri Jababeka . Annual Report 2022. Accessed via https://www.jababeka.com/id/hubungan-investor-tata-kelola/ on October 3rd, 2023.
Bibliography of 30 Largest Real estate Companies in Indonesia
Plaza Indonesia Realty . Annual Report 2022. Accessed via https://www.plazaindonesiarealty.com/res/fiona/drive/uploads/ARPLIN2022.pdf on October 3rd, 2023.
Jaya Real Property . Annual Report 2022. Accessed via https://www.jayareal estate.com/investor on October 3rd, 2023.
Lippo Cikarang . Annual Report 2022. Accessed via https://www.lippo-cikarang.com/investor/ on October 3rd, 2023.
Bakrieland Development . Annual Report 2022. Accessed via https://bakrieland.com/en_corporateinfo/integratedannualreports on October 3rd, 2023.
Greenwood Sejahtera . Annual Report 2022. Accessed via https://www.greenwoodsejahtera.com/reports.php on October 3rd, 2023.
Metropolitan Land. Annual Report 2022. Accessed via https://metropolitanland.com/id/annual on October 3rd, 2023.
Puradelta Lestari . Annual Report 2022. Accessed via https://deltamas.id/en/investor-relations/ on October 3rd, 2023.
Adhi Commuter Properti . Annual Report 2022. Accessed via https://www.adcp.co.id/investor/financial-reports on October 3rd, 2023.
Duta Anggada Realty . Annual Report 2022. Accessed via https://www.dutaanggadarealty.com/home/showanual on October 3rd, 2023.
Bekasi Fajar Industrial Estate. Annual Report 2022. Accessed via https://befa.id/financial-information/?lang=id on October 3rd, 2023.
Pollux Properties Indonesia . Annual Report 2022. Accessed via https://pollux.co.id/investor-information/ on October 3rd, 2023.
Roda Vivatex . Annual Report 2022. Accessed via https://www.rodavivatex.co.id/index.php/financial-data/laporan-keuangan on October 3rd, 2023.
Perdana Gapuraprima . Annual Report 2022. Accessed via https://gapuraprima.com/laporan-keuangan/ on October 3rd, 2023.
DMS Propertindo . Annual Report 2022. Accessed via https://www.dmspropertindo.com/investor-relations on October 3rd, 2023.
Agung Semesta Sejahtera . Annual Report 2022. Accessed via https://www.agungsemestasejahtera.com/investor on October 3rd, 2023.
Makmur Berkah Amanda . Annual Report 2022. Accessed via https://www.mbagroup.id/investor on October 3rd, 2023.
Natura City Developments . Annual Report 2022. Accessed via https://naturacity.co.id/en/reports/category/annual-report/ on October 3rd, 2023.
Ristia Bintang Mahkotasejati . Annual Report 2022. Accessed via https://ristiagroup.com/id/annualreport on October 3rd, 2023.
Pudjiadi Prestige . Annual Report 2022. Accessed via https://pudjiadiprestige.co.id/investor/annual_reports on October 3rd, 2023.
Nusantara Almazia . Annual Report 2022. Accessed via https://www.nusantara-almazia.com/ on October 3rd, 2023.
Bima Sakti Pertiwi . Annual Report 2022. Accessed via https://bimasaktipertiwi.com/hubungan-investor/laporantahunan/ on October 3rd, 2023.
Bekasi Asri Pemula . Annual Report 2022. Accessed via http://bekasiasripemula.co.id/id/laporan.html on October 3rd, 2023.