Illustration - Indonesia Property Award 2016, an annual award for leading property products and developers in the country, will be held in Jakarta for the second time next year as candidates have started showcasing great projects despite sluggish property market throughout the year. REUTERS/China Daily

Candidates Start Lining for Indonesia Property Awards 2016

BY :TABITA DIELA

NOVEMBER 29, 2015

Jakarta. Indonesia Property Award 2016, an annual award for leading property products and developers in the country, will be held in Jakarta for the second time next year as candidates have started showcasing great projects despite sluggish property market throughout the year.

The event opens for submission until March 4 and will announce its final shortlist on April 8. The winners will be announced in a gala dinner on May 12, 2016, in Fairmont Hotel, Jakarta.

“Indonesia looks set to have a promising new year with all these discussions of reforms that could impact the property sector,” Terry Blackburn, CEO of Ensign Media, said in a statement.

Ensign Media is the publisher of Property Report and the organizer of the event.

“At the first-ever Property Report Congress held in October, the majority of panelists from Indonesia predicted that the coming year would offer a better outlook for the country as the domestic real estate market continues to evolve and adapt to changes.”

Great names in Indonesia property industry, including Sinar Mas Land and Ciputra Group, won several trophies in 2015's first Indonesia Property Award.

The award has prepared 27 trophies for the next year's event, with categories covering a range of segments including condominium, housing, villa, hotel, office and retail.

Commercial real estate services company Colliers International revealed a gloomy report on Jakarta's office, apartment, retail, hotel and industrial estate market in the third quarter.

The report said the occupancy in Jakarta's central business districts in the third quarter 2015 has fallen to 92.7 percent, down "moderately" by 3 percent on a yearly basis.

Apartment prices witnessed a "minor" increase of 3.4 percent quarterly and 11.2 percent annually to Rp 29.87 million per square meter.

Occupancy rates in the retail sector dropped 1 percent to 85.3 percent in a year-on-year basis in the third quarter of this year.

Occupancy in Jakarta's hotels also dropped by 1.2 percent quarterly to 57.2 percent.

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