Jakarta CBD Office Market Overview 2H 2019

Research Date: Thursday, 12 March 2020
Jakarta CBD Office Market Overview 2H 2019 | KF Map – Digital Map for Property and Infrastructure in Indonesia

Office occupiers are expected to gradually start realizing the importance of MRT being the main transport along the Corridor in deciding their office space location needs. 

As of the second half of 2019, the cumulative total office stock in the Jakarta CBD increased slightly by 5.1% (yoy) to 6,758,450 square meters due to several new completed projects entering the market in 2019, including Sequis Tower, Plaza BP Jamsostek, Millenium Centennial Center, Unity Square, Sudirman 7.8. In addition, the rental office stock was recorded at 4,775,769 square meters of which 25% was Premium Grade A, 60% was Grade A, 13% was Grade B and 2% was Grade C. 

Overall occupancy continued to be under pressure, declicing to 76.2%, leaving a total of 1,607,534 square meters of vacant spaces in the end of 2019. In the end of 2019, the continuing trend of flight to quality was reflected in the net absorption figures for the entire year of 2019. Prime Grade A and Grade A buildings recorded a positive net take-up, while Grade B and Grade C buildings recorded a negative take-up.

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