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Colliers Quarterly Property Market Report H2 2021 Surabaya All Sector

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Office

Office space trends are dynamic and innovative in meeting the needs created by rapid business developments. Changes in business models and a new generation of businesspeople are driving a shift towards office space that is more flexible, concise and innovative; one that focuses on productivity, output, collaboration and comfort.

Apartment

This semester seems to be the last period of the VAT incentive. Therefore, developers have been maximising this opportunity to sell their projects. As a result, more completed units have been sold than in the previous semester.

Retail

Restrictions on activities have begun to be loosened again to cover the damage from mall closures. Advancement in the filtering and tracing process using smartphone applications has restored public confidence in visiting shopping centres. Entertainment retailers have been allowed to reopen and children are allowed to visit malls again, both of which have been strong factors in the recovery of the retail sector in Surabaya.

Hotel

By the end of 2020, 2021 was expected to be a turning point for the hotel sector. Conditions did appear to be improving in early 2021, but by mid-2021, cases of Covid-19 spread throughout Indonesia and forced the government to implement an emergency brake, meaning that mobility was limited. The impact was a decrease in hotel performance due to many delays and/or cancellation of activities.


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Colliers Quarterly Property Market Report H2 2021 Surabaya All Sector

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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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Rizal Gobi

Senior Manager

Research

Jakarta

Rizal Gobi serves as the Research Manager, focusing on residential market. Gobi tracks economic, demographic, property related issues, new policies related to property market and apartment and housing data and utilize the information to produce insightful reports on a recurring basis.

He is proficient in aggregating intelligence from a variety of third party resources and also collects tabulates, and distributes primary research. In this role, Gobi works closely with Advisory Services team, Residential Tenant Representation team, and Capital Market & Investment Services team.

He is familiar with Greater Jakarta area (Bekasi, South Tangerang, Depok, Bogor), Surabaya and East Timor property market.

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Nurul Yonasari

Senior Research Executive

Research

Jakarta

Nurul joined in the property industry since 2013. Experienced as property research for five years. Have a special interest in hospitality and tourism industry.

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