{
    "success": true,
    "data": {
        "id": 1728395,
        "msgid": "two-top-property-issuers-by-profit-both-owned-by-aguan-1778323975",
        "date": "2026-05-09 17:28:49",
        "title": "Two Top Property Issuers by Profit, Both Owned by Aguan",
        "author": "Muhammad Idris",
        "source": "KOMPAS",
        "tags": "",
        "topic": "Property",
        "summary": "In the first quarter of 2026, PT Pantai Indah Kapuk Dua Tbk (PANI) led property issuers with a net profit of Rp 578 billion, driven by surging sales in the PIK 2 premium project area, marking over tenfold growth year-on-year. Close behind, CBDK reported Rp 542 billion in net profit, a 317% increase, supported by strong commercial property demand in the CBD PIK 2 zone. This dominance by Aguan-affiliated companies highlights resilience in the property sector amid high interest rates and subdued purchasing power, while other firms like APLN showed sharp recoveries and CTRA maintained a top-three position despite revenue dips.",
        "content": "<p>The competitive landscape among property issuers in the first quarter\nof 2026 reveals intriguing dynamics. Amid challenges from high interest\nrates and pressure on purchasing power in several market segments, some\ncompanies have managed to record significant profit surges. Notably, the\ntop two spots in the list of property issuers with the highest net\nprofits are both occupied by companies affiliated with property\nconglomerate Sugianto Kusuma, or Aguan. This performance is strongly\nsupported by the booming sales of premium projects, particularly in the\nPantai Indah Kapuk (PIK) 2 area, which continues to show positive\nmomentum. Compiled from disclosures on the Indonesia Stock Exchange\n(BEI), PT Pantai Indah Kapuk Dua Tbk (PANI) holds the top position after\nbooking a net profit of Rp 578 billion in the first quarter of 2026.\nThis surge is primarily driven by high sales of projects in the PIK 2\narea, causing the company\u2019s net profit to jump more than tenfold\nyear-on-year. The second position among property issuers with the\nhighest profit is held by CBDK with a net profit of Rp 542 billion. This\nachievement grew 317 percent compared to the first quarter of 2025.\nMeanwhile, the company\u2019s revenue was recorded at Rp 743 billion, up 74\npercent year-on-year. This impressive growth is supported by the\noptimisation of monetisation in the CBD PIK 2 area, reflecting high\nmarket interest in commercial property products in that zone. Meanwhile,\nalthough experiencing a performance decline compared to the previous\nyear, PT Ciputra Development Tbk (CTRA) still holds a position in the\ntop three. In terms of revenue, CTRA recorded sales and operating\nrevenue of Rp 2.55 trillion, down 6.37 percent from the same period last\nyear at Rp 2.73 trillion. Another property issuer, APLN, recorded a\nfairly sharp recovery at the start of this year. The company booked a\nnet profit of Rp 513.8 billion, reversing from a net loss of Rp 55.6\nbillion in the first quarter of 2025. This performance improvement is\nsupported by a surge in sales and operating revenue reaching Rp 2.9\ntrillion, soaring 232 percent compared to the same period last year at\nRp 874.5 billion. Then, Pakuwon Group or PWON completes the top five\nlist with a net profit of Rp 389.99 billion. This profit grew 29.31\npercent year-on-year, in line with the company\u2019s revenue increasing 5.83\npercent to Rp 1.64 trillion. This growth demonstrates the strength of\nthe company\u2019s recurring income business model, which has long been its\nmainstay, particularly from shopping centres, offices, and hotels\nsegments.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/two-top-property-issuers-by-profit-both-owned-by-aguan-1778323975",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}