The company was founded in 1972 as a subsidiary of PT Bumi Serpong Damai Tbk and is primarily engaged in property development. It started its real estate business in 1987 by developing a commercial area with several shop-houses around Pangeran Jayakarta Street, Jakarta. The success of these projects in Jakarta and the surrounding areas encouraged the Company to expand in Greater Jakarta and other major cities in Indonesia, including Surabaya and Balikpapan. Its property portfolio divided into four types: Township, Residential, Asset Management also Retail and Hospitality.
One of its flagship projects was developed in 1989 when the Company ventured in developing an integrated commercial project or superblock on 29 hectares of land in Mangga Dua, a mixed concept of residential and commercial areas that includes apartments, kiosk and shop-houses, now known as ITC Mangga Dua. Based on this concept, the Company has developed ITC projects located in Greater Jakarta and Surabaya.
Topping off Aerium Apartment located in Jakarta.
Commenced development of third industrial estate.
The acquisition of shares of PT Itomas Kembangan Perdana.
Grand Opening of AEON Mall Tanjung Barat at Southgate Apartment.
The market capitalization as of December 31, 2023, reached IDR 8.55 trillion.