Colliers International Asia Market Snapshot Q2 2018 reports that infrastructure and development will be the main sectors driving Q3 2018.
Despite a continued slower than expected pace of sales in the strata apartment market as well as the office leasing and strata sales sector, foreign investors and developers continue to explore the market for joint development opportunities.
The Colliers International Asia Market Snapshot for Q2 2018 reveals that across the nation, infrastructure and development will be sectors to watch moving into Q3.
Major Deals to Highlight
The report reveals that most prospective investors continue to originate from Japan, Singapore, Mainland China and South Korea, and to a lesser degree Hong Kong, Malaysia and Thailand.
Japanese property developer Hankyu Realty Co. has entered its first Indonesian property development as a 25% shareholder in a JV with Japanese trading house Sumitomo Corporation, which will hold 45%, along with 30% local partner PT Sentul City Tbk. The three-tower apartment project will include 1,095 units as part of a larger mixed-use project with Aeon Mall Sentul City. The project has already commenced construction with completion estimated in less than a year.
Infrastructure development continues to move ahead at a record pace in and around Greater Jakarta, including an extensive LRT system due to open in 2019:
The 16 kilometres of MRT construction from Lebak Bulus to Bundaran Hotel Indonesia has reached 93.5 per cent completion and will open to the public in early 2019. PT MRT Jakarta also recently announced an MOU with Go-Jek to provide feeder transport to and from homes to MRT stations to workplaces. The president director of PT MRT Jakarta said the operator will not be providing any parking lots near MRT stations, only transit areas.
Kertajati International Airport in Majalengka, West Java, (located east of Greater Jakarta) was officially opened in May and is projected to become the second-largest airport in Indonesia after Soekarno-Hatta Airport (Soetta) in Tangerang, Banten.
Click to view Colliers International Asia Market Snapshot Q2 2018.
For more information or to discuss the report, phone or email Steve Atherton, Director at Colliers International via the contact details listed below.
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