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Property Market Report | H1 2020 Surabaya Office

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Downtown Buildings 1536x1040

The already saturated office market since last year are now exacerbated Covid-19 pandemic. When this report is prepared, Surabaya became the epicenter with the highest record of confirmed cases and deaths. This does not help the overall slowdown in office absorption. Supply projection surpasses the real need for office space. This also push asking rent to stay with no anticipative increase over the next semester.

We think there should be no additional project beyond our list of supply pipeline at least to maintain hope by focusing on creating new demand which possibly coming from local small to medium enterprise, start-up companies or even big corporations that plan to expand in Surabaya. Developers’ focus should be on catching up a safe occupancy level and become more accommodative particularly to a big corporation.


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Property Market Report | H1 2020 Surabaya Office

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Ferry Salanto

Senior Associate Director

Research

Jakarta

As Head Research Department, Ferry is in charge in providing property market knowledge for internal purposes and for clients. The scope of sectors covered in the quarterly market report comprises office, apartment, retail, hotel and industrial estate.

In regional tasks, the Heads of Research of each country work together in providing regional market reports covering the Asia Pacific region and globally. Currently Research Department is not only operating as a cost-centre department, as he and his team have been assigned by the Central Bank to provide monthly market information.

On the consulting front, the task involves providing a wide range of advisory services to our clients. Working closely with Consulting Department, we help clientsby preparing feasibility studies to determine whether their property projectsare viable from both financial or marketing aspects. 

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Eko Arfianto

Senior Manager

Research

Jakarta

I started working at property business since 2005 when i worked as Site Supervisor at Construction Management company in Jakarta. My responsibilities covered architecture design supervision of high-rise buildings. As an acrhitect, I worked with thousands concepts and ideas and also did cost estimator / quantity surveyor. I also did advisory for interior design works. Then i continued my working experience by joining with Colliers in June 2007 at Research Department. I started from the beginning at this business as Database Administrator. After spending 10 years working at Colliers International Indonesia, my current posistion is Senior Manager at Research Department. 

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