No new office projects planned as Jakarta vacancy overhang persists

The city’s office stock was stable at just over 5 million sqm.

Jakarta's CBD office stock remained unchanged at 5.08 million sq m in the first quarter of 2026, as developers continued to hold back new projects amid subdued market conditions, according to Savills.

The consultancy said the Sudirman corridor accounted for 48% of total CBD office supply, while Grade A buildings made up 59% of stock. Savills expects this composition to remain largely unchanged through the end of the year.

The market remains in a holding pattern, with demand driven mainly by tenant relocations rather than expansion, resulting in limited net absorption and continued pressure on vacancy levels and rental rates.

According to Savills, developers currently view new office construction as commercially unviable given the persistent supply overhang. The firm said no major new office developments are expected until the market demonstrates a clear and sustained recovery rather than a temporary improvement.