(MENAFNEditorial)
JAKARTA April 24 2015—Cushman & Wakefield Indonesia predicts Jakarta retail supply will grow by 4.7% in the next three quarters.
Arief Rahardjo Head of Research & Advisory PT. Cushman & Wakefield Indonesia said the future supply would come from several lifestyle centers and one-stop shopping centers which have secured permits long before the implementation of the mall moratorium regulation.
“Continued growth in both size and wealth of Jakarta population has allured retailers both local and international to enter leasing pre-commitments especially in the under-construction centers” he said in a research Thursday (4/23/2015).
Cushman & Wakefield Indonesia notes Lippo Mall Puri @ The St. Moritz Mal Pantai Indah Kapuk and Central Park Ext. will be 100% completed after mid 2015.
Meanwhile a trade center namely Pusat Grosir Metro Cipulir and a lifestyle center namely One-Belpark are expected to enter the market in the second quarter of 2015.
However according to Arief fit-out completion and trading commencement may hold the average occupancy rate in the short term.
“Occupancy rate will be relatively stable in the longer term and rental rates will experience modest increment” he said. Read more..
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.