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Demand for Retail Space in Jakarta Drops During Semester I-2021 All

JAKARTA, KOMPAS.com – Throughout the first semester of 2021, the total demand for retail space in Jakarta fell by two percent compared to the same period the previous year.

So that the absorbed retail space area reaches 3.8 million square meters.

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Meanwhile, the total supply increased to 4.8 million square meters which was influenced by the entry of Pondok Indah Mall III into the retail market in April 2021.

Senior Advisor for Research Knight Frank Indonesia, Syarifah Syaukat, revealed that the entry of Pondok Indah Mall in the South Jakarta area received good interest from the public.

Moreover, this mall accommodates the needs of the market who want experience and different concepts.

Meanwhile, the mall occupancy rate in Jakarta has not yet moved below 80 percent or 78.96 percent to be precise.

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This occupancy rate decreased by 4 percent when compared to Semester II-2020 and 8 percent when compared to Semester I-2020.

Movement tenant who enter and leave retail generally come from the food and beverage sector (FnB), fashion, bookstores and hypermarket.

For retail rental prices themselves, there is still no change or stagnation and even tends to fall. However, in some retail classes, rental prices have actually increased.

When viewed from the distribution of new retail stocks, many came from the Central Jakarta area with 43 percent.

Meanwhile in East Jakarta, there are 19 percent, West Jakarta 15 percent, South Jakarta 13 percent and North Jakarta only 10 percent.

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Meanwhile, based on existing retailers, most are in the South Jakarta area with 44 percent.

In the last six months, there have been various changes in retail operations in Jakarta. One of them is the implementation of health protocols.

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“During the first half of this year, several retail spaces have become extensions of the government to carry out vaccinations both for the public and specifically for its employees,” said Syarifah.

In addition, retailers have also adapted by implementing health protocols.

For example, providing hand sanitizer stations, robotic systems for spraying disinfectants, including: hygiene theater.

Another adaptation made by retail is to present exhibition hub in the lobby area with free standing of pop up retailer.

This is an alternative to relayout in opening access for retailers to interact more quickly with consumers.


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