Colliers Indonesia, a property consulting firm, believes that Jakarta will maintain its attractiveness as a property investment destination, even after losing its status as the capital city. According to their report, there remains significant potential for growth in the hotel and mall sectors in Jakarta this year. Hotel performance is projected to improve through the fourth quarter of 2024, particularly in terms of occupancy rates. Jakarta continues to be a hub for business and entertainment, including music concerts and sports events, which further expands the hotel market. "Jakarta will not lose its appeal because the market is there, corporations are present, and business activities continue, although there are concerns that some major events may shift elsewhere," stated Ferry Salanto, Head of Research at Colliers Indonesia. The metropolitan area of Jakarta, Bogor, Depok, Tangerang, and Bekasi (Jabodetabek), with a population exceeding 30 million, remains a key attraction for property market development. The hotel occupancy rate is expected to rise as more in-person activities, including business events and daily activities, occur. Colliers forecasts that hotel occupancy in Jakarta will reach 65.6% in 2024.

Additionally, positive trends are emerging in the retail sector. With increasing foot traffic, many mall owners are preparing to optimize their operations and facilities. Malls have evolved into gathering spaces and lifestyle hubs beyond just shopping, offering dining and entertainment experiences that attract visitors. This evolution requires mall owners to be creative and adapt to changing trends. One developer capitalizing on mall business growth is Lippo Karawaci (LPKR). According to Colliers, LPKR is developing Lippo Mall East Side Cempaka Putih in Central Jakarta. LPKR's Group CEO, John Riady, reported that the company's lifestyle segment, which includes mall and hotel businesses, generated IDR 285 billion in revenue in the first quarter of 2024. LPKR has also launched a new mall, Omotesando Bintaro, strategically located near a toll exit in Tangerang and connected to the Embarcadero Bintaro apartment complex. This year, LPKR plans to redevelop Plaza Semanggi, located in Jakarta's central business district. Moving forward, LPKR's management prioritizes maintaining current growth momentum while managing finances wisely to achieve long-term financial stability amid ongoing economic challenges.

Source: https://mediaindonesia.com/ekonomi/685337/jakarta-masih-jadi-magnet-investasi-sektor-properti