Warehouse demand up

JAKARTA (JP): The Indonesian industrial estate market needs to have factories and warehouses for lease, a property consultant said here yesterday.

"We get many inquiries for this type of property but we just don't have the supply," said Riko Perlambang, the commercial and industrial sales director of the property consultant PT Colliers Jardine Indonesia.

He said that interested parties ended up buying land and building instead.

The waiting period to lease or buy a factory or warehouse is usually three months, unless there is a ready supply available.

He said the industrial estate market had good prospects for the next 10 years as long as the government prioritized the manufacturing sector.

He said more standard factory buildings would be ready by October 1997 but they will be for sale not for lease. (bnt)