{
    "success": true,
    "data": {
        "id": 15191,
        "msgid": "jakarta-office-construction-declines-report-1261354419",
        "date": "2009-12-21 07:13:39",
        "title": "Jakarta Office Construction Declines: Report",
        "author": "",
        "source": "JG",
        "tags": "business",
        "topic": null,
        "summary": "The amount of new office space built in Jakarta\u2019s central business district this year fell 12 percent from 2008 but is expected to rebound next year, according to a report from property consultant Cushman & Wakefield. Demand is also expected to rise in line with the economic recovery, as banking and finance companies look to re-enter the market after a sluggish 2009, according to the report, which was released last week.",
        "content": "<p>The amount of new office space built in Jakarta\u2019s central business district this year fell 12 percent from 2008 but is expected to rebound next year, according to a report from property consultant Cushman &amp; Wakefield.<\/p>\n<p>Demand is also expected to rise in line with the economic recovery, as banking and finance companies look to re-enter the market after a sluggish 2009, according to the report, which was released last week.<\/p>\n<p>Dharmesti Sindhunata, associate director of marketing and communications at Cushman &amp; Wakefield Indonesia, said the net available supply of office space in the central business district was 247,000 square meters in 2009, down from 280,000 square meters in 2008.<\/p>\n<p>Next year, available supply is predicted to rebound to 260,000 square meters.<\/p>\n<p>The total supply of office space had increased to 3.93 million meters currently, with the completion of the 23,000-square-meter Menara Bidakara 2 building on Jl Gatot Subroto.<\/p>\n<p>The Bakrie Tower in Central Jakarta is expected to add 60,000 square meters when it opens during the first quarter.<\/p>\n<p>Average gross rentals fell 0.7 percent in the fourth quarter compared to the previous quarter, to Rp 140,900 ($14.94) per square meter per month.<\/p>\n<p>When measured in US dollars the average gross rental increased by 2 percent over the quarter due to the strengthening rupiah. Average gross rentals were down by 2.7 percent from a year ago, although up by 13 percent when measured in US dollars.<\/p>\n<p>Cushman &amp; Wakefield reported that transaction activity in the strata title office market slowed during 2009.<\/p>\n<p>Asking prices for CBD strata title office space remained stable during the fourth quarter, with higher-quality space being offered for between $2,000 and $2,300 per square meter and lower-quality space being offered at around $1,380 a square meter.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/jakarta-office-construction-declines-report-1261354419",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}