Jakarta CBD office occupancy rate reaches 73% in Q3

The occupancy rate outside the CBD was lower at 70%.

In the Jakarta CBD’s office market, Colliers data revealed that the average occupancy rate corrected to 73.0% in Q3 2024. Outside the CBD, the rate was recorded at 70.0%. 

“Notably, TB Simatupang, a key area outside the CBD, posted a marginally higher occupancy of 76.2% in the same period. These figures suggest modest growth, while the market continues to anticipate improvements in several business sectors.”

Here’s more from Colliers:

Demand for office buildings in Jakarta varies depending on building grades. In the CBD, premium office buildings maintain a solid 74.4% occupancy rate, while Grade A offices slightly exceed this, reaching 76.4%. These higher-grade buildings remain highly attractive to both local and multinational companies, largely due to their strategic locations.

Meanwhile, outside the CBD, Grade A offices hold a comparatively lower occupancy rate of 70.2%. The varied quality of office buildings in these areas presents significant growth potential. Demand for high-quality office spaces outside the CBD is expected to rise, driven by ongoing infrastructure developments and increasing business activity, offering landlords opportunities to attract a more diverse tenant base.