History of SCBD: From Slum Settlement to Elite Jakarta District

The Sudirman Central Business District (SCBD) is now synonymous with skyscrapers, luxury apartments, five-star hotels, and upscale lifestyle centres. However, before it became one of Jakarta’s most elite districts, this area was known as a slum in the heart of the capital.

The major transformation of the district began in the late 1980s when the property development company PT Danayasa Arthatama entered the market and obtained permission to manage the land in South Jakarta.

According to the official SCBD website, PT Danayasa Arthatama’s development journey commenced in 1987. The company is a subsidiary of Artha Graha Network, owned by Tomy Winata. PT Danayasa Arthatama was established on 1 April 1987 and subsequently listed its shares on the Indonesia Stock Exchange on 9 April 2002.

Infrastructure development was carried out in phases to create an integrated business environment. In 1995, the first office building in SCBD, the Artha Graha Building, began construction.

SCBD’s development continued in 1998 with the completion of the Indonesia Stock Exchange building and Kusuma Chandra apartments. The completion of the Indonesia Stock Exchange building further strengthened the district’s position as a national financial and business centre.

In 2002, PT Danayasa Arthatama conducted an initial public offering (IPO) of 100 million shares on the Indonesia Stock Exchange. This measure was undertaken to support business development in the SCBD area.

Between 2004 and 2006, luxury apartments SCBD Suites and Capital Residence were completed. Subsequently, various other prestigious properties followed, including an elite and modern hotel, One Pacific Place, and Equity Tower, which were completed during 2007–2011.