Jakarta mall rents up 2.6% in 2025

Rental levels in prime locations remained stable.

In a report, JLL said mall rents in Jakarta increased 0.8 per cent quarter-on-quarter in Q4, bringing full-year 2025 growth to 2.6 per cent. Prime locations remained stable, with only selective modest adjustments, reflecting strong occupancy and consistent foot traffic across the city’s shopping centres.

JLL noted that seasonal events, including Halloween, Christmas and New Year, helped boost exhibition activities and visitor numbers, supporting landlord confidence. No retail investment transactions were recorded in Q4, with market conditions maintaining rental stability.

Here’s more from JLL:

Fourth-quarter demand remained strong, led by lifestyle and fashion retailers building on earlier F&B expansion trends. Notable new market entries included Abercrombie & Fitch, Sanfu, Christy NG, BHC Chicken and Sparkora BBQ across Jakarta’s prime shopping centres.

ZARA prepared to reopen its Plaza Indonesia location, which was set to become the brand’s largest Indonesian store. The matcha trend continued to influence shopping centres through dedicated events and promotional activities during the quarter.

No new prime shopping malls entered the market during Q4, keeping supply constrained

Q4 2025 saw no prime shopping mall openings, with vacancy rates holding steady around 4%. Sustained demand in established prime locations continued to support stable occupancy levels despite limited space availability.

With no new prime mall supply anticipated, retailers continued adapting to space constraints. The limited inventory reinforced competition for quality locations, particularly during the busy holiday shopping season.

Outlook: Demand is expected to increase slightly, while supply constraints persist through 2026

More international brands are expected to enter Jakarta’s retail market in 2026, with F&B operators likely to continue dominating leasing activity. This sustained demand from food and beverage tenants will maintain competition for prime shopping mall space.

Property owners are taking cautious approaches to pricing, monitoring tenant performance and broader market conditions before implementing adjustments. Limited supply will continue supporting stable occupancy levels in prime locations.