Lippo Group's Meikarta property development in Cikarang, Bekasi, West Java. (B1 Photo/Emral Firdiansyah)
Investment Property in Greater Jakarta Still Promising: Colliers
MARCH 02, 2020
Jakarta. Colliers Indonesia's director of investment services, Steve Atherton, said research conducted by the Colliers team has found that most businesses are still interested in investment properties in Jakarta, Bogor, Depok, Tangerang and Bekasi – the Greater Jakarta area known by its acronym Jabodetabek – despite a slowing property market.
"Jabodetabek has been a business center for years. Substantial investment in infrastructure development up to 2019 has increased demand [for investment properties]," Atherton said in a press release in Jakarta on Sunday.
According to Atherton, many property developers are now looking closely at infrastructure maps and marking off significant landmarks such as MRT, LRT, bus lines, rail lines and TOD (Transit Orientated Development) as investment opportunities.
"Even though the property market is slowing, development of projects near these transit stations is still going on," he said.
Local and international developers are looking at areas that function as focal points for multipurpose-oriented development in transit.
"The most interesting locations are the starting point and endpoint of a transportation network," Atherton said.
For example, a Jakarta-Bandung bullet train station would be an excellent point for business and leisure, Atherton said, and some investors would be more willing to consider purchasing new land for projects near it.
"People want to live, work or shop at transit development centers because these places are more comfortable, easier to access and have more connectivity, allowing residents to save time and energy," Steve said.