Increased leasing activity led to a positive net take-up in the second half of 2024. High quality buildings in prime locations remained to attract strong occupier demand, helping to stabilize occupancy levels.

The cumulative total office stock in the Jakarta CBD remained unchanged at 7,326,495 square meters with no new office projects entering the market in the second half of 2024. The rental  office stock was recorded at 5,188,193 square meters of which 28% was Premium Grade A, 61% was Grade A, 10% was Grade B and 1% was Grade C. Approximately 145,699 square meters of the total new office supply in the pipeline, comprising only one project, are expected to enter the market in 2026. The new project will be located in the submarket of Thamrin and it plans 
to embrace a green office concept and secure green building certifications.