Jakarta Retail Market Overview H2 2021

Research Date: Friday, 25 March 2022
Jakarta Retail Market Overview H2 2021 | KF Map – Digital Map for Property and Infrastructure in Indonesia

Following the re-opening of retail malls and stores after the temporary closures in July to mid-August 2021 due to the Delta-variant cases, the Jakarta retail market managed to recover with increased mall foot traffic and improved private consumption during the fourth quarter of 2021. The relaxed policy of micro-scale activity restrictions (PPKM Mikro) to level 1 had allowed retail shopping malls to open until 10 pm with 100% of capacity, dine-in for a maximum meal time and permit visitors under 12 years old accompanied by a parent.

With the faster recovery and to improve rental collections, mall owners are expected to gradually lower rental and service charge discounts given to tenants and provide additional rental reliefs and adjustments extended to major tenants who still struggle on a case-by-case basis.

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