PT Pembangunan Perumahan (Persero) Tbk
| State-owned enterprise | |
| Traded as | IDX: PTPP |
| ISIN | 🆔 |
| Industry | Construction |
| Predecessor | NV Pembangunan Perumahan |
| Founded 📆 | August 26, 1953 |
| Founder 👔 | Government of Indonesia |
Area served 🗺️ | Indonesia |
| Products 📟 | Construction, engineering, procurement and construction (EPC), infrastructure, property and energy |
| Owner | Government of Indonesia (51%) |
| Members | |
Number of employees | |
| 🌐 Website | ptpp |
| 📇 Address | |
| 📞 telephone | |
PT Pembangunan Perumahan (Persero) Tbk, commonly known as PT PP or PTPP, is an Indonesian state-owned enterprise engaged primarily in construction and investment. Its activities include building construction, civil and infrastructure works, engineering, procurement and construction (EPC), specialist construction, and investments in infrastructure, property and energy.[1]
The company was established on 26 August 1953 as NV Pembangunan Perumahan.[2] In 1961, it became a state company, PN Pembangunan Perumahan, under Government Regulation No. 63 of 1961.[3] Its legal form was changed to a state-owned limited liability company, PT Pembangunan Perumahan (Persero), under Government Regulation No. 39 of 1971.[4] The company subsequently became publicly listed on the Indonesia Stock Exchange on 9 February 2010, trading under the ticker symbol PTPP.[5]
History
Establishment
PT PP was established on 26 August 1953 under the name NV Pembangunan Perumahan by Notarial Deed No. 48. The company was initially associated with a construction company formerly owned by Bank Industri Negara.[6]
During its early years, the company was entrusted with constructing housing for employees of PT Semen Gresik in Gresik, East Java. It subsequently received contracts for several major projects associated with Japanese war reparations to Indonesia, including Hotel Indonesia, Bali Beach Hotel, Ambarukmo Palace Hotel and Samudera Beach Hotel.[4]
State company
In 1961, NV Pembangunan Perumahan was incorporated into the state-owned enterprise PN Pembangunan Perumahan pursuant to Government Regulation No. 63 of 1961.[3] The company subsequently undertook major public construction projects as part of Indonesia's post-independence development programme.
In 1962, PN Pembangunan Perumahan completed Hotel Indonesia in Jakarta. The 14-storey building contained 427 rooms and was described by the company as the tallest building in Indonesia at the time.[4]
Transformation into a Persero
Government Regulation No. 39 of 1971 provided for the conversion of PN Pembangunan Perumahan into a state-owned limited liability company (Persero).[4] The company's establishment as PT Pembangunan Perumahan (Persero) was subsequently formalised through Notarial Deed No. 78 of 15 March 1973 and an amendment dated 21 March 1974.[6]
For much of the following period, construction remained the company's principal business. In 1991, PT PP began diversifying into property and real estate, including office-space rental and real-estate development in Cibubur. It also established affiliated companies with Indonesian and foreign partners.[4]
Employee ownership and public listing
In 2004, PT PP implemented an Employee Management Buy Out (EMBO) programme under which shares formerly held by the Republic of Indonesia were transferred for employee and management ownership. Following the transaction, the government held 51% of the company's shares while the employee and management cooperative held 49%.[2]
In preparation for its transformation into a publicly traded company, the government approved changes to the state shareholding structure through Government Regulation No. 76 of 2009. PT PP subsequently conducted its initial public offering, and its shares began trading on the Indonesia Stock Exchange on 9 February 2010 under the ticker symbol PTPP.[5]
Diversification
Following its listing, PT PP expanded its activities beyond traditional building construction. The company's business portfolio came to include EPC, infrastructure, property, energy and other investment activities.[1]
Operations
PT PP's construction activities include building construction, civil and infrastructure works, EPC, specialist construction, plants and equipment. Its investment activities include infrastructure, property and energy.[1]
The company has participated in the construction of major infrastructure and public facilities in Indonesia. In the 2020s, its projects included dams, hospitals, ports, toll roads and projects associated with the development of Indonesia's new capital, Nusantara.[7]
Ownership
PT PP is majority-owned by the Government of Indonesia. According to the company's current corporate profile, the government holds 51% of the company's shares, while the remaining 49% is publicly held.[1]
See also
- State-owned enterprises of Indonesia
- Indonesia Stock Exchange
- Hotel Indonesia
References
- ↑ 1.0 1.1 1.2 1.3 "Company Profile". PT PP (Persero) Tbk. Retrieved 16 August 2026.
- ↑ 2.0 2.1 "Annual Report 2024" (PDF). PT PP (Persero) Tbk. Retrieved 16 August 2026.
- ↑ 3.0 3.1 "Peraturan Pemerintah Nomor 63 Tahun 1961 tentang Pendirian Perusahaan Negara "Pembangunan Perumahan"". Database Peraturan BPK. Retrieved 16 August 2026.
- ↑ 4.0 4.1 4.2 4.3 4.4 "Annual Report 2023" (PDF). PT PP (Persero) Tbk. Retrieved 16 August 2026.
- ↑ 5.0 5.1 "Annual Report 2009". PT PP (Persero) Tbk. Retrieved 16 August 2026.
- ↑ 6.0 6.1 "Consolidated Financial Statements: 30 September 2022 and 31 December 2021" (PDF). PT PP (Persero) Tbk. Retrieved 16 August 2026.
- ↑ "Regulatory Filings". PT PP (Persero) Tbk. Retrieved 16 August 2026.
External links
Official website PT PP Investor Relations
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