PCPD agrees US$400 million sale of Jakarta landmark asset

Pacific Century Premium Developments Limited ( (HK:0432) ) has provided an announcement.

Pacific Century Premium Developments has agreed to sell its entire equity interest in the Jakarta-based Pacific Century Place project, including the full share capital of the holding vehicle and an associated shareholder loan, for US$400 million in cash, subject to completion adjustments. The deal, classified as a very substantial disposal requiring shareholder approval, is based on an independent valuation of the property and could reshape the group’s asset mix while retaining a management role via a new property management agreement, though completion remains conditional and not guaranteed.

Under a share purchase agreement signed on 16 March 2026, an indirect wholly owned subsidiary will transfer the target company and loan to a purchaser that will novate its rights to a designated fund, with a 0.55% transaction fee payable to a purchaser affiliate. The transaction, which must close by 31 July 2026 or a later agreed date and is contingent on conditions including finalising a property management agreement with an associated party, signals a strategic monetisation of a prime Jakarta asset that may strengthen liquidity and sharpen focus on fee-based property management for the group.

The most recent analyst rating on (HK:0432) stock is a Hold with a HK$0.30 price target. To see the full list of analyst forecasts on Pacific Century Premium Developments Limited stock, see the HK:0432 Stock Forecast page.

More about Pacific Century Premium Developments Limited

Pacific Century Premium Developments Limited is a Hong Kong-listed property developer engaged in investment, development and management of premium real estate projects. The group focuses on high-end commercial and mixed-use properties in key Asian markets, including landmark assets such as Pacific Century Place in Jakarta.

Average Trading Volume: 1,717,033

Technical Sentiment Signal: Hold

Current Market Cap: HK$570.7M

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