JAKARTA - Colliers International Indonesia (CII) estimates that property companies will be more conservative in expanding its business & sales, due to the impact of the COVID-19 pandemic on the Indonesian economy. This was conveyed by Sander Halsema, Senior Director of Retail Service of CII in Jakarta on Tuesday (13/10).
According to him, the current condition will encourage retailers to market properties located in areas that are easily accessible to consumers, rather than those located in modern shops or malls, due to low demand caused by the recession.
"A recession is not a positive thing for consumers, because consumers choose to reduce overall spending," he said. (LK/AR)