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Property Market Report | H2 2018 Surabaya Office

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Downtown Buildings 1536x1040

In our view, there are at least three challenges in Surabaya’s office market. First is the usage of houses and shop-houses as office address, because this impacts the absorption of formal office buildings in Surabaya. Second is the relatively slow economic growth that pushes some companies to refrain from expanding or opening branch offices in other regions, including Surabaya. Third, we saw a tendency of well-known companies with strong financial backup generally to construct their own building, rather than lease an office building for a long term.

Amid the limited absorption, landlords should consider offering their buildings to office tenants in Jakarta that plan to expand their geographical coverage.


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Property Market Report | H2 2018 Surabaya Office

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Related Experts

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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