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Jakarta Post

New buildings continue to push up vacancy rates

  • Eisya A. Eloksari

    The Jakarta Post

Jakarta   /   Fri, January 24 2020   /  01:57 am
Vacant skyline: A view of office buildings in Kuningan, South Jakarta, in December 2019. More office space will be available in Jakarta this year with several new buildings entering the market, according to a recent survey by real estate consulting firm Savills Indonesia. (JP/Dionnasius Aditya)(JP/Dionnasius Aditya)

Vacant skyline: A view of office buildings in Kuningan, South Jakarta, in December 2019. More office space will be available in Jakarta this year with several new buildings entering the market, according to a recent survey by real estate consulting firm Savills Indonesia. (JP/Dionnasius Aditya)More office space will be available in Jakarta this year as several new buildings enter the market, according to a recent survey by real estate consulting firm Savills Indonesia.The company’s research and consultancy head, Anton Sitorus, predicted that office vacancy would increase in 2020 to slightly above 25 percent from a rate of 24 percent in 2018 and 2019, as around 650,000 square meters of new space would become available in both the central business district (CBD) and the non-CBD area.The company also predicted that around 1.6 million sq m of office space will enter the market between 2020...