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Property Market Report | H2 2020 Surabaya Retail

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Retail 1536x1040

Business activities have yet to fully return to normal. Nevertheless, people’s passion for going to shopping centres continues. Naturally, landlords and retailers welcome this and aim to keep visitors positive and returning to visit such centres.

During the pandemic, however, some tenants are waiting to see how the situation develops before deciding about store expansion. Others are expected to reconsider store layouts and sizes at the time of lease renewal.

On balance, the current retail situation needs more time to recover. The volume of sales transactions are expected to be much lower than normal due to reduced purchasing power as a result of layoffs and salary cuts. Retailers currently tend to boost sales with an omni-channel strategy. From the landlord’s side, the aim is to optimise the tenant mix to increase the number of visitors. Generally, in future, landlords are expected to be more careful in selecting and classifying the types of tenant, in order to better regulate the number of visitors within the centre and inviting visitors to regularly go and shop there.


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Property Market Report | H2 2020 Surabaya Retail

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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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