{
    "success": true,
    "data": {
        "id": 1847544,
        "msgid": "jakartas-ghost-office-count-soars-as-vacancies-remain-rife-1783500690",
        "date": "2026-07-08 14:55:03",
        "title": "Jakarta's 'Ghost' Office Count Soars as Vacancies Remain Rife",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Property",
        "summary": "Jakarta's office market continues to grapple with approximately 3 million square metres of vacant space, particularly within premium CBD buildings along the Sudirman corridor. This persistent oversupply is creating a tenant's market, enabling companies to relocate to higher-quality offices without significant cost increases. Developers are responding by halting speculative new builds and focusing instead on renovating existing assets to remain competitive.",
        "content": "<p>The Jakarta office market remains overshadowed by high vacancy rates\neven as leasing activity shows signs of recovery. Up to the second\nquarter of 2026, around 3 million square metres of office space remained\nunoccupied, intensifying competition between buildings and prompting\ndevelopers to alter their business strategies. The sheer volume of empty\nspace is creating opportunities for companies looking to move to\nbetter-quality buildings. The market conditions, which still favour\ntenants, have led many building owners to offer various incentives to\nkeep their office space attractive without having to significantly cut\nrental prices. \u201cWe can see there is about 3 million square metres of\nvacant space. One of the market\u2019s main concerns at present is the sheer\namount of available empty space, which is around 3 million. About 1.76\nmillion of that is in the CBD, while the remainder is outside the CBD,\u201d\nsaid Ferry Salanto, Head of Research at Colliers Indonesia, during a\npress conference on Wednesday (8\/7\/2026). The majority of the vacant\nspace in the Central Business District is actually located in\npremium-grade office buildings, with most of the empty space situated in\nSudirman (39%), followed by Gatot Subroto (18%), Rasuna Said (16%), Mega\nKuningan (12%), Thamrin (9%), and Satrio (5%). Outside the CBD, the\nvacant space is more concentrated in South Jakarta, which is dominated\nby Grade B buildings. The vacancy situation presents a golden moment for\ncompanies to relocate, especially to the CBD. \u201cWhat is interesting is\nthat most of the vacant space in the CBD is actually in Grade A\nbuildings, especially those in the Sudirman corridor. For outside the\nCBD, the concentration is in South Jakarta and is mostly dominated by\nGrade B buildings,\u201d Ferry said. Amid the high vacancy levels, developers\nare considered to be increasingly cautious about launching new projects.\nTheir focus is no longer on increasing supply but on improving the\nquality of their existing assets to be more competitive amidst changing\ntenant needs. This strategy is expected to help the market absorb the\nempty space gradually while maintaining a balance between supply and\ndemand in the coming years. On the other hand, tenant companies are\ntaking advantage of this situation to secure more strategic locations at\nmore efficient costs. \u201cHowever, if we look at this condition, it is not\nsolely a challenge for building owners; it is actually an opportunity\nfor companies that will relocate to buildings with better quality. So,\nwithout having to significantly increase occupancy costs because this is\na tenant\u2019s market. Many companies are taking advantage of this situation\nto move to buildings that are more modern, more efficient, and also\ncloser to public transport,\u201d Ferry explained. Colliers also noted that\nthere is almost no new speculative office building construction.\nDevelopers prefer to renovate and upgrade the quality of existing\nbuildings rather than risk adding new supply when vacant space is still\nabundant. \u201cDevelopers are also increasingly cautious. There is almost no\nspeculative construction of new office buildings. Their focus is now\nmore directed at renovating and improving the quality of existing\nassets. We believe this strategy will help the market absorb the empty\nspace gradually while maintaining a balance between supply and demand in\nthe next few years,\u201d Ferry concluded.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/jakartas-ghost-office-count-soars-as-vacancies-remain-rife-1783500690",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}