Jakarta CBD to see 100,000sqm of new office space until 2028

Outside the CBD, around 240,000sqm of new stock is expected to materialise.

In a recent report, Colliers said Jakarta’s office spectrum experienced moderate activities throughout the final quarter of 2024, with a limited number of developments underway to pursue their project completion.

Some construction timelines may be slower as developers have yet to gain momentum and timing for more evidentiary green lights.

Here’s more from Colliers:

In the CBD, there has yet to be new project completion, maintaining the cumulative supply steady at 7.41 million sq m. Similarly, outside the CBD, the cumulative supply remains unchanged at 3.83 million sq m, underscoring a balanced market with limited competition from new pipelines.

The steady supply provides opportunities to minimize competition among landlords to secure tenants. However, Jakarta, as a prestigious hub, is expected to continue attracting businesses. The completion of mass public transportation in the future will drive investment growth and strengthen Jakarta’s appeal as a thriving investment destination, including in the office sector.

Up to 2028, around 100,000 sq m of office space will be added to the cumulative supply in the CBD. Meanwhile, outside the CBD, seven office buildings will be completed, contributing around 240,000 sq m to the cumulative supply.