Colliers | Colliers Quarterly Property Market Report H2 2021 Surabaya Retail

Shoppers excited to return after lockdown

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.

Landlords need to maintain their tenancy mix to attract visitors. Flexibility is a must for landlords, such as being open to negotiating short-term leases and profit-sharing. Other than that, they can make attractive offers to prospective new tenants, such as lower down payments and free fit-outs. As for the tenants, they need to offer attractive promotions, especially for year-end holidays.

Colliers Quarterly Property Market Report H2 2021 Surabaya Retail

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Ferry Salanto

Senior Associate Director

Research

Jakarta

+62 21 3043 6730

+62 812 835 6660

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

+62 21 3043 6726

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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