PWON - Reports Robust Financial Performance in 1H23

PWON - Reports Robust Financial Performance in 1H23 Pakuwon Jati (PWON) reported an increase in net revenue and net profit amounting to IDR2.89 tn (+5.3% yoy) and IDR1.24 tn (+49.6% yoy), respectively. Moreover, PWON recorded a 4.2% yoy increase in office leasing revenue, totaling IDR155 bn. The average occupancy rate of PWON's office buildings currently stands at 75%. The company plans to add office buildings to Gandaria City Phase 2, but the specific revenue target for this business line has not been disclosed. PWON operates three property portfolios with office buildings, including Superblok Gandaria City, Superblok Kota Kasablanka, and Superblok Tunjungan City Surabaya. (Source : Kontan)