PT Pakuwon Jati Tbk is an Indonesian real estate developer based in Surabaya and the holding company of the Pakuwon Group. Pakuwon was founded by Alexander Tedja in 1982 and focus on the construction of shopping centers and office buildings in Surabaya and Jakarta. Pakuwon is a pioneer of the superblock concept in Indonesia, a large-scale integrated development in malls, offices, condominiums and hotels. Pakuwon owns and manages shopping centers such as Tunjungan Plaza superblocks, BBD Tower complex office, five-stars Sheraton Surabaya Hotel, Condominium and Laguna Indah real estate, as well as several industrial estates located in Surabaya metropolitan area. On August 22, 1989, Pakuwon obtained an effective statement from Bapepam-LK (now the Financial Services Authority - OJK) to conduct an initial public offering (IPO). These shares were listed on the Surabaya Stock Exchange and the Jakarta Stock Exchange on October 9, 1989.