This is the Property Developer with the Biggest Market Cap in Indonesia

JAKARTA, KOMPAS.com - 2023 is just hours away, leaving 2022 full of interesting records and at the same time giving hope that the property sector will show significant recovery. A number of developers are competing to release new projects for various target segments ranging from the luxury class to subsidies.

This is of course, for the sake of showing the public, that this sector which has a dual impact on 174 industries has regained market trust.

However, of the many developers, only five have made convincing performance. These big names continued their domination as was the record in previous years. Who are they?

Kompas.com ranks developers based on market capitalization (market cap).

Market capitalization is an indicator of stock performance related to the fundamentals of a company. One of the important considerations that investors take into account before buying a stock is the size of the market cap. According to Investopedia, market cap is the aggregate market value of a company. The market capitalization calculation is based on the total multiplied by the outstanding number of company shares traded on the stock market.

Usually, the market cap is used by investors to measure the quality of the company. For investors, market cap is a parameter that shows the size of the company. The bigger the market cap, the bigger the value for companies whose shares are traded in the public.

The following are the top five property developers based on market cap as of 30 December 2022:

1. PT Metropolitan Kentjana Tbk (MKPI)
The company recorded a market capitalization of IDR 34.85 trillion. Meanwhile, the revenue is Rp. 1.79 trillion and income is Rp. 642.25 billion.
MKPI has a property business that is supported by recurring and development for the residential and commercial categories. The property sales business includes townhouses and strata title apartments spread across Jakarta, Tangerang and Batam Island.
Its portfolio includes Pondok Indah Mall (PIM 1-3), Pondok Indah Golf Apartment (PIGA), Pondok Indah Office Tower (PIOT), Pondok Indah Office Park (PIOP) and Service Residence Pondok Indah (SRPI).
The company also has a hospitality business through its subsidiary, PT Hotel Pondok Indah, which is operated using the Intercontinental Hotel Group (IHG) network. Its subsidiaries include PT Bumi Shangril La Jaya and PT Pondok Indah Investment.

2. PT Pakuwon Jati Tbk (PWON)
Alexander Tedja gave birth to this company so he was able to score a market cap of IDR 21.77 trillion. Revenue as of 30 December 2022 reached IDR 6.42 trillion with a net income of IDR 1.85 trillion.
PWON operates in five segments namely offices, shopping centers, serviced apartments, housing and hotels. Its portfolio includes nine shopping centers spread across Jakarta, Surabaya, Yogyakarta and Solo; six offices, namely Gandaria 8 Office, Kota Kasablanka Tower A and B, and Pakuwon Tower in Jakarta, as well as Pakuwon Tower and Pakuwon Center in the Tunjungan Plaza superblock, Surabaya.
Then two serviced apartments namely Ascott Waterplace Surabaya and Somerset Berlian Jakarta. Furthermore, the hospitality segment includes Sheraton Surabaya Hotel and Towers, Four Points, Sheraton Grand Jakarta Gandaria City, The Westin Surabaya Hotel and Marriott Hotel Yogyakarta.
There are also strata apartments including two Gandaria Heights towers, four Casa Grande towers and others.

3. PT Bumi Serpong Damai Tbk (BSDE)
The company started by Muktar Widjaya recorded a market cap of IDR 19.69 trillion. Unlike MKPI, BSDE's revenue was recorded at IDR 9.36 trillion with a net income of IDR 1.34 trillion.
To note, BSDE focuses on developing new cities that include integrated residential areas, with infrastructure, environmental facilities, and parks. Among them are BSD City, Kota Wisata, Grand Wisata, Wisata Bukit Mas, Legend Wisata, Kota Deltamas, Balikpapan Baru, Grand City Balikpapan, and Nuvasa Bay.
Reporting from the Financial Times, the Company's property business segments include residential, commercial, asset management, retail and hospitality through a number of subsidiaries. For example, PT Bumi Indah Asri, PT Bumi Karawang Damai, Global Prime Capital Pte. Ltd., PT Kanaka Grahaasri, PT Kanaka Grahaasri, PT Putra Prabukarya, PT Bintaro Serpong Damai, PT Duta Dharma Sinarmas, and PT Duta Karya Propertindo. Then PT Duta Mitra Mas, PT Duta Pertiwi Tbk, PT Mustika Karya Sejati, PT Garwita Sentra Utama, PT Grahadipta Wisesa, Global Prime Capital Pte. Ltd., PT Indonesia International Expo and PT Indonesia International Graha.

4. PT Ciputra Development Tbk (CTRA)
The company, which is now controlled by the second generation, Candra Ciputra, has recorded a market capitalization of Rp. Rp. 17.54 trillion. The revenue reached IDR 10.31 trillion with a net income of IDR 2.25 trillion.
CTRA is engaged in housing as its core business in the development of integrated areas, then recreational areas, industrial areas, offices, hotels, shopping centers, apartments, golf courses, and others.
Its portfolio includes: CitraRaya Cikupa, Ciputra World 1 Jakarta, Ciputra World 2 Jakarta, Ciputra World Surabaya, CitraLand City Surabaya, CitraLand City Losari, and so on.

5. PT Summarecon Agung Tbk (SMRA)
The company started by Sutjipto Nagaria scored a market capitalization of IDR 10.07 trillion. Meanwhile revenue reached IDR 5.99 trillion and net income IDR 462.9 billion. For your information, SMRA's business includes property development, investment property, hospitality, and property management.
Until now, SMRA has developed several integrated townships, including Summarecon Kelapa Gading, Summarecon Serpong, Summarecon Bekasi, Summarecon Bandung, Summarecon Karawang, Summarecon Makassar, Summarecon Bogor, and Summarecon Crown Gading.


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