Office Property Growth Rate High
Tuesday, 11 July, 2006 | 15:32 WIB

Tempo Interactive, Jakarta: The new supply of office property underwent a high growth rate, 390 percent, in the second quarter of this year to become 5.1 million square meters. In second place is the condominium sector by 238 percent to equal 40.677 units.

Mia Diansari, senior analyst of Coldwell Banker Property Indonesia, said the fast growth of the office sector is due to the increase of foreign investment and joint domestic enterprise expansion.

“This will keep increasing if the government stays committed to simplify regulations for businessmen to invest in Indonesia,” Diansari told the press yesterday (10/7).

Based on an analysis of Coldwell Banker’s Property of Indonesia as of the second quarter of this year, the new supply to the office sector especially offices for lease rose 390.16 percent or 24,508 square meters.

The new supply is from NISP Tower, Wisma Mulia Extension and Gedung Medco. As absorption is also high, which is 129.38 percent or equivalent to 48,922 square meters, the occupancy rate rose 82.66 percent.

Eko Nopiansyah
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