COVID-19 and the Indonesian Property Market

Forbes Indonesia|May 2020

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COVID-19 and the Indonesian Property Market
James Allan is Managing Director - Country Head of JLL Indonesia.
JAMES ALLAN

January and February this year were largely business as usual in Indonesia. Office tenants were signing new leases, malls enjoyed healthy foot traffic, and residential developers remained active. The impact of COVID-19 only began to be felt towards the end of the first quarter. As the situation escalated globally in late March, more businesses started working remotely in Indonesia, followed by more stringent social restrictions in Jakarta in early April. This situation clearly has implications for all property sectors.

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May 2020