Indonesia

The company’s landed residential sales rose by 23.8% and contributed the most by 59.4% in 9M22 YoY.

A 47,439sqm building completed in Q3 after a year with no new supply.

Six lodging facilities are expected to open before the year ends.

The total growth year-to-date was at 1.8%.

Data centre investments are spilling over to the CBD.

Because of its architecture concept, its occupancy rate quickly returned to 80% when restrictions were eased.

Strata office prices are currently at IDR55.7m/sqm in the CBD.

The cumulative apartment supply only grew 0.1% to 219,859 units in Q3.

Monthly occupancy rates haven’t reached below 50% so far this year.

And supply will be at 3.8m sqm outside the CBD.

Competition is set to be tight as more new projects enter the market.

Six properties are expected to open within this year.

Most landlords have resumed normal rent levels. 

There are no high-end retail projects in the pipeline.

On a year-on-year basis, rents decreased 9.6%.

They are responsible for 5% of the condo units in Greater Jakarta.