JAKARTA - JLL Indonesia predicts that office building occupancy rate in Jakarta will remain stable in 2020. Compared to the previous year, office building occupancy rate in Jakarta fell to 76%.

Last year, office building supply in the CBD area reached 360,000 square meters and this year is predicted to penetrate up to 500,000 square meters. This increase is in line with the strong demand for flex space and technology companies.

"The total absorption of office building rental during 2019 is 200 thousand square meters in the CBD area, in which 50% was done by technology-based companies and coworking space. Rental prices for class A buildings are still declining by 4% from 2018," said James Taylor, JLL Indonesia's Head of Research in a media briefing.

Based on data from JLL Indonesia, occupancy rate in 2019 is led by East Jakarta with 93%, South Jakarta 82%, Central Jakarta 80%, West Jakarta 73% and North Jakarta 62%. For TB Simatupang itself, the occupancy rate reached 79%. (LM)