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PROPERTY consultant Jones Lang LaSalle (JLL) noted that the occupancy rate of shopping centers or malls in Jakarta throughout 2020 reached 87%, down from the previous year which reached around 90 percent.
“The occupancy rate fell from the previous year, but was at 87%,” said Head of Research JLL Indonesia Yunus Karim in an online exposure to the Jakarta property market, Wednesday.
Yunus explained that this condition occurred because there was a Large-Scale Social Restriction (PSBB) policy in 2020 to prevent the transmission of COVID-19. The shopping center was closed during the PSBB policy. The new mall was allowed to resume operations in June with limited capacity and operating hours.
“This causes tenants (tenants) to temporarily or permanently close. We can see that 2020 is a challenging year for tenants,” he said.
JLL noted that there was a decrease in tenant leases by 1.2% throughout 2020. The decline also occurred from market demand for mall buildings of 34 thousand square meters. However, there was a new supply of 25.4 thousand square meters last year.
Yunus said that even though 2020 was a tough year, shopping centers were still considered a place of entertainment and part of the lifestyle so that their performance was still quite positive amid the pandemic.
“Even though there have been some closings, we are also still seeing the opening of new outlets in middle to upper-class shopping centers,” he noted.
He predicts that a number of sectors such as food and beverage, beauty and fast fashion will still be quite active in 2021. However, children’s games and cinemas, which are the main attraction of malls, still need to wait for time to attract visitors again. [antaranews/photo special]
