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Property Market Report | Q1 2020 Jakarta Retail

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Retail 1536x1040

In the light of COVID-19, most retailers become more conservative in expansion plans. Some will close their stores temporarily to get their finances back in shape. Developers might be willing to give a rent-free period, which will be paid back by the retailers later.

New shopping centre projects entering the market might struggle to lease out their space, rents will most likely be under pressure. However, several new and existing malls will still quote high asking rents, but would provide competitive discounts to encourage committed tenants.

Real estate parties including landlords, retailers, banks and other stakeholders should discuss amongst themselves to try to look for a joint solution of the problem. Large retailers should also be flexible towards landlords by respecting their lease commitments, in order not to aggravate the current condition.


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Property Market Report | Q1 2020 Jakarta 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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