Jakarta retail supply reaches 4.9m sqm by end-2024

A new mall opened in the final quarter of the year.

The retail landscape in Jakarta continues to evolve, with new additions shaping the city's supply of retail space. According to Colliers data, in Q4 2024, a relatively minimal addition has been made to the cumulative supply, which now stands at 4.9 million sq m.

This increase was attributed to the opening of Puri Indah Mall 2, an extension of Puri Indah Mall, in West Jakarta. Meanwhile, other malls such as the shopping mall at Menara Jakarta and Lippo Mall East Side (LIMES) at Holland Village have postponed their openings.

Here’s more from Colliers:

In keeping up with evolving trends, several malls are undergoing renovations. For instance, two shopping malls located within the CBD, namely Plaza Semanggi (to be renamed Lippo Mall Nusantara) and Epicentrum Walk, are being upgraded and are scheduled to finish the renovations in 2025.

In Greater Jakarta, Pakuwon Group has officially commenced operations of its first mall in Bekasi, Pakuwon Mall Bekasi, contributing to the cumulative supply, which stood at 3.24 million sq m as of Q4 2024. The Bekasi area is expected to continue contributing new supplies in Greater Jakarta. Living World Grand Wisata and Summarecon Mall Bekasi Phase 2 will add approximately 100,000 sq m of new supply over the next two years.

As an area that continues to develop, supported by the availability of land, infrastructure, and ease of public transportation, Greater Jakarta remains a promising region for developers to refine and advance their shopping mall portfolios.