Jakarta mall rents inch up by 0.5% in Q2

Rental prices remained healthy despite lack of new supply.

Mall rents in Jakarta increased by around 0.5% in Q2 2025 according to data from JLL, with popular shopping centres seeing slightly higher growth due to their elevated occupancy levels. Rental rates will likely remain at single digits by the end of the year.

Retailers, especially international brands, often partner with large retail groups that can leverage strong bargaining power to negotiate favorable lease terms and moderate rent increases.

Here’s more from JLL:

During the second quarter, international brands accounted for approximately 55% of new store openings. Notable among these were Chinese tea companies, which established their presence in the market.

Jakarta’s shift toward active lifestyles drives sports retail growth, with local and international opening their flagship store in Jakarta.

Limited prime retail options lead brands to explore alternative spaces either inside or outside shopping malls

No new prime shopping malls opened in the quarter, with vacancy rates holding around 4%. As spaces become limited, some tenants are opting for island or booth locations to maintain visibility.

In response to the lack of new premium mall openings anticipated in coming years, expanding brands and market newcomers—particularly food and beverage establishments—are setting up in busy areas with outdoor space options.

Outlook: While premium mall construction slows, developers turn toward unique concepts

No supply of prime shopping malls is coming to the market in the next 12 months. Developers are currently formulating retail developments that cater to the ever-changing trends in the market, with high emphasis likely placed more on lifestyle malls or compound spaces.

Mall developers may benefit from limited space availability but are expected to approach rent adjustments cautiously, considering economic conditions and foot traffic patterns before modifying their pricing structures.