Weak Trade Centers cause Developers to Relocate to Malls
9 July 2013 17:04 WIB
TEMPO.CO, Jakarta - Colliers International Indonesia senior associate director of retail services, Steve Subadi J Sudijanto, said the retail property business, such as trade centers, has slowly begun to shift due to lack of visitors.
"Currently, retail developers are more interested in investing in grade A shopping malls," said Steve during a joint discussion with the media at the World Trade Center in Jakarta yesterday.
Steve said that many owners and developers of trade centers only consider these centers to be investments and not business prospects.
Steve added that there is a shift in interest in the property business. After trade centers lacked visitors, developers have started to shift to grade A malls.
"Grade A shopping malls are currently favored because it will definitely turn out a huge crowd. However, the problem lies in the difficulty of obtaining a license for it," he said.
During the second quarter of 2013, three new malls were established in the capital city incuding the Pondok Indah Street Gallery (an extension of Pondok Indah Mall I), Lotte Mart Shopping Avenue, and Cipinang Indah Mall.
TIKA PRIMANDARI
