JAKARTA’S PROPERTY MARKET
- Jakarta’s apartment units are increasing, which indicates the potency for fit-out and refurbishment projects in the property market. 59,017 apartment units were under construction during Q1 2017, of which 21,167 units are expected to reach completion before the end of 2017. The growth will also continue by 28,303 units in 2018 and 9,547 units in 2019.
- Jakarta is anticipating three shopping centers, that will be completed during the remainder of 2017. The projects are expected to bring 139,000 sqm of new supply to the market, which brings the current cumulative supply to 4.57 million sqm.
- Two new hotels were opened in Jakarta during the quarter, providing a total of 342 rooms, which brought the total star-rated hotels in Jakarta to 192, comprising of 39,310 rooms. For the remainder of 2017, there will be a total of 4,356 additional hotel rooms in Jakarta that will bring the total number in Jakarta to 43,666 rooms, representing a 12% growth in supply Year over Year.
Visit website: http://mailchi.mp/2f079d37a830/news-from-index-mozaik-indonesia-2017
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