Jakarta prime mall pipeline remains tight through 2030

Only two major projects are currently scheduled.

International food and beverage operators and luxury lifestyle brands continued to drive leasing activity across Jakarta's prime retail market in the first quarter of 2026, according to JLL.

While vacancy in prime shopping centres rose to 4.2% following the closure of a department store anchor tenant at MKG 1, leasing momentum remained active with new entrants across multiple retail categories.

JLL said Chinese tea chains Yuzhou Tea, Auntea Jenny and Naisnow all opened their first Indonesian outlets during the quarter. Luxury perfumery brands also expanded their presence, with new boutiques from Byredo, Loewe Perfumes, Penhaligon's and D'Orsay.

No new prime shopping malls were completed during the quarter, and the future pipeline remains limited. JLL noted that only two major projects are currently scheduled, including the 56,000-square-metre Kota Kasablanka Extension expected in 2029 and the 12,000-square-metre Gandaria City Extension targeted for 2030.

Prime mall rents increased 1.09% quarter-on-quarter, led by upper-grade shopping centres, reflecting sustained demand for quality retail space despite the slight rise in vacancy.

No retail investment transactions were recorded during the quarter. According to JLL, international brands continue to partner with established local retail groups to strengthen lease negotiations and secure favourable rental terms.

Looking ahead, JLL expects food and beverage operators to continue leading leasing demand through 2026. With limited new supply entering the market, occupancy levels across established prime malls are expected to remain stable.