Nine new shopping centres to be completed in Jakarta by 2024
This equates to around 460,000sqm of new retail supply.
As a result of the slowing progress of construction, a Colliers report revealed that the completion of several malls will be delayed. With no supply, the cumulative supply in Jakarta remained at 4.86 million sq m in 2022.
According to Colliers, Green Walk Mall (located within the Grand Dhika City complex in Bekasi) added new retail supply in the Greater Jakarta area in Q4 2022. The mall’s completion brought the total supply to nearly 3 million sq m in 2022.
“At least nine shopping centres are currently under construction and are expected to be completed by 2024. These projects will add approximately 460,000 sq m of new retail supply, with approximately 70% of the total located in the Greater Jakarta area. Three large-scale shopping malls are scheduled to open in 2023: Lippo Mall East Side (within the Holland Village complex), Pakuwon Mall Bekasi and Bintaro Xchange 2,” the report added.