TEMPO.CO, Jakarta - The massive floods that submerged buildings in Jakarta for the first two days of the New Year were predicted to threaten the property business in the capital as this sector is expected to endure financial losses in the trillions.

This was voiced by Jakarta Property Institute (JPI) executive director, Wendy Haryanto, who said that “The property sector will surely get a massive blow from it, shopping centers are suddenly deserted,” she said on Thursday, January 2.

Other than affecting shopping centers, she said the prolonged floods that continue to submerge a number of areas in the city can see a delay of construction activities by property developers.

“The floods in Jakarta also cause offices to be deserted since many workers are unable to leave their houses to work. This itself may cause economic activities to not run normally,” she said

Moreover, Wendy Haryanto asserted that the government should have taken valuable lessons from the floods and issue a solution as similar events had happened in the previous years.

“Developers must work hand-in-hand with the government to continue developing the city further,” said Wendy.

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