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.
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.
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.
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.