Currently, the situation in Surabaya has started to improve. This can be seen from the improving hotel performance in Surabaya. It is still far from normal, but it is heading toward normal. Since the government has granted permits to carry out activities for government agencies in hotels, the government market has become the largest market as well as a driving force for the hotel industry, including that in Surabaya. From the construction side, it is estimated that several upcoming projects will experience operational delays considering the unstable condition.
Senior Associate Director
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.