Jakarta Retail Market Report - Colliers International

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jakarta | 2q 2012 | retail p. 2 | colliers international Overall, from 2000 through 2011, the average jakarta retail supply showed an annual growth of 12.2%. this growth demonstrated additional supply of 249,593 sq m per year during the s q m jakarta retail cumulative supply based on region 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 2000 2001 2002 2003 2004 2005 2006 CBD Central jakarta South jakarta North jakarta East jakarta West jakarta Colliers International Indonesia - research Based on region, the retail supply in West jakarta showed the lowest average growth at 6.5% per year between 2000 and 2Q 2012. after Central Park in 2009, there were no new malls opened and the cumulative supply stayed at 597,210 sq m. New retail space will only become available in 2013 with the opening of St Moritz Mall. In the South jakarta area, kota kasablanka Mall and eXion Mall at kemang Village are expected to operate in the future. another mall is Pondok Indah Street Gallery, which is an extension of Pondok Indah Mall 1 on which construction started last year. Should these future malls open, they will contribute 175,152 sq m new supply. Since 2010, there have been no new malls completed in North jakarta. the total supply stayed at 935,199 sq m and there will be no new supply in North jakarta up to the end of 2012. the only future mall in the region will be the Baywalk at Green Bay providing 52,000 sq m of new retail space in 2013. although East jakarta had the smallest cumulative supply as of 2Q 2012, i.e. 299,348 sq m, the region showed growth of 14.6% per year from 2000 to 2Q 2012. after two smallscale retail centres came onto the market with a total of 22,663 sq m in 2010 - 2011, Pulomas XVenture and Cipinang Indah Mall are anticipated to bring 45,200 sq m of new supply in two years. Central jakarta, which covers retail areas like Menteng, Gajah Mada, Senen and tanah abang showed 18.2% average growth from 2000 to 2Q 2012. the golden age of the retail supply in period. With 282,827 sq m of new retail supply entering the market in 2012, it will maintain an average growth above 200,000 sq m per year. 2007 2008 2009 2010 2011 1Q 2012 2Q 2012 2012F 2013F 2014F Central jakarta occurred from 2002 to 2005 when there was 566,173 sq m. the total supply for the region was 747,410 sq m as of 2Q 2012. However, due to limited land, no new retail centres have been opened in Central jakarta since last year. It seems that the trend will continue until the end of 2014. Unlike Central jakarta, the scarcity of vacant land currently does not impact the influx of retail supply in the CBD. the total cumulative retail space was 719,593 sq m in 2Q 2012, reflecting an annual growth of 12.8%. the latest shopping centre was kuningan City Lifestyle Mall in late 2011. Ciputra World Mall in jalan Satrio is projected to open in the second semester of 2012. Several under-construction retail centres projected to enter the market in 2013 are rushing their work progress to meet the completion schedule. Cipinang Indah Mall and the Baywalk at Green Bay Pluit have almost completed the construction of building structures. Meanwhile, only just starting work on the basement, St Moritz Mall confidently stated that they will be completed next year. these future malls will add another 129,200 sq m of retail space in jakarta. apart from construction activities, other issues like supply reduction will occur in jakarta. a retail centre located in tendean, South jakarta, will close in the next quarter of 2012. the landlord is planning an apartment development and will replace the mall which has been in operation since 2002. another supply reduction will probably happen in one year. a mall located in jalan thamrin will cease operations and as a result, an office tower is planned to replace the
list of future shopping centres in jakarta existing mall. Still around the thamrin area, a retail centre which has been in operation since 1962 is planned to be revamped. Later on the shopping centres name location region nla (sq m) status 2012 kota kasablanka kasablanka South jakarta 110,000 Under Construction eXion Mall kemang Village antasari South jakarta 56,052 Under Construction Ciputra World jakarta Satrio South jakarta 78,000 Under Construction Menteng Square Proklamasi Central jakarta 4,475 Under Construction Pulomas X’Venture Pulomas East jakarta 25,200 Under Construction Pondok Indah Mall Street Gallery Pondok Indah South jakarta 9,100 Under Construction 2013 Cipinang Indah Mall Cipinang East jakarta 20,000 Under Construction the Baywalk @Green Bay Pluit Pluit North jakarta 52,000 Under Construction St. Moritz Puri Indah West jakarta 129,200 Under Construction 2014 Mall at the City Centre kH Mas Mansyur Central jakarta 35,000 Under Planning the Gateway Pondok Gede East jakarta 10,000 Under Planning Pantai Indah kapuk Mall Pantai Indah kapuk North jakarta 30,000 Under Planning Colliers International Indonesia - research 2016 Pondok Indah Mall 3 Pondok Indah South jakarta 40,000 Under Planning bodetabek bodetabek retail cumulative supply s q m 3,000,000 2,400,000 1,800,000 1,200,000 600,000 0 2000 2001 2002 2003 2004 2005 Cimanggis Square is the latest shopping centre in the jabodetabek area and there will be no new retail centres afterwards in the outside jakarta area (Bodetabek). two retail centres in tangerang, Mall Bale kota and alam Sutera shopping malls will only be completed at the end of 2012. 2006 2007 jakarta | 2q 2012 | retail landlord will extend its leasable area and the whole compound will remain as a commercial centre with a hotel. 2008 2009 2010 2011 1Q 2012 2Q 2012 2012F 2013F 2014F Colliers International Indonesia - research the absence of new shopping centres maintained the cumulative supply in Bodetabek area at 1.93 million sq m however, this area is still perceived as a potential area for the retail market to grow. today, there are several areas with growing business and residential areas in the outside of jakarta which have potential for retail businesses. colliers international | p. 3
Page 1: 2Q 2012 i the knowledge research &
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Page 7 and 8: shopping centres name location regi
Page 9 and 10: ental rates and Service Charge rent
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