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Universitas Prasetiya Mulya was founded in 1980 by a group of prominent businessmen and then established in 1982 with assistance from prestigious international institutions as the first to offer the MBA program in Indonesia. The construction of the new building located in Cilandak started with the laying down of the first stone on November 10, 1982, by the Minister of Education and Culture, Dr. Daoed Joesoef.


Due to new government regulation, The new building was ceremoniously opened on November 12, 1984, by the Coordinating Minister of Economy and Industry, Prof. Dr. Ali Wardhana.


Due to a new government regulation, in 1993. The Institut Manajemen Prasetiya Mulya again changed its name to Sekolah Tinggi Manajemen Prasetiya Mulya while the academic degree MBA was changed to MM (Magister Manajemen).


Prasetiya Mulya School of Business and Economics opened its Bachelor’s Degree programs in 2005.


In 2010, the BSD campus was opened to cater to the needs of busier activities held in Prasetiya Mulya although the campus was mainly used for the Bachelor’s Degree programs.


In 2011, another new program was opened which was Bachelor of Accounting while at the same time, the institution again changed its name to Sekolah Tinggi Ilmu Ekonomi Prasetiya Mulya.


In 2015, the Bachelor of Management program opened another new concentration which was Event Management and in the following year, Sekolah Tinggi Ilmu Ekonomi Prasetiya Mulya  changed its form to Universitas Prasetiya Mulya.