Relington Land

Hello, Commercial People of Indonesia! If you are in or near the heart of Indonesia, namely Jakarta, be sure to view Relington Land's listed properties on commercialpeople.co.id! Whether you're in search of a new home, or space for your business, Relington Land have both residential and commercial properties for sale. Visit http://www.commercialpeople.co.id/author/relington/ to find out more. 

Office space in Jakarta to increase

Foreign investors looking to expand their presence in Indonesia over the upcoming four years will find generous office options to choose from in Jakarta, according to a report from worldwide real estate services firm Colliers International.

Whilst total office space in Jakarta rose by just 1% during the first half of 2014, the capital will see an accumulated 10.7million square metres of new office space developed by 2018, up 51% from today‘s 7.1million square metres, according to the report released last Wednesday.

The projection assumes 74 buildings currently under construction or being planned will be completed on schedule. The increase will result in a decrease in office occupancy to under 90% from 96% at the end of the former half.

New government will positively rebound property market

The new government is expected to support property growth, as demand for residential properties is on the increase.

Joko Widodo and Jusuf Kalla’s success in winning the presidential race is believed to be influential towards accelerating the property market during the second half of 2014, as numerous property developers and investors have left speculation mode in terms of investment.

The peaceful political process has also been viewed positively, strengthening market confidence towards the future of the country’s property sector. Additionally, active transactions were viewed during the month of Ramadhan and Idul Fitri, further signalling optimism that the property market is bouncing back.

Hendra Hartono, property consultant and CEO of Leads Property Indonesia, alongside Joyp Rusli, chief marketing officer of Lippohomes, expressed confidence in the property sector for the third quarter this year. 

Property News - Majestic Land Developments

The chief of Majestic Land property developer has announced works on a portfolio of new property projects for the upcoming five years, beginning this year.

The projects are worth Rp40trillion ($3.45billion) and will involve the development of residential, commercial and hospital buildings.

Majestic Land are optimistic the property business will maintain good prospects. Which is why they have continued to expand into differing property segments.

One project includes apartment development in Yogyakarta where the company are also aiming to develop a condominium hotel to be titled the Best Western Condotel upon 1,682 square metres of land.

According to Majestic Land, of the 124 fully furnished condotel units still under construction, 89% had already been sold. It is not unusual for property developers to sell units of a project prior to completion of construction, to aid in financing the development. The new property unit owners are to take possession in the next 15 months.

Other Majestic Land projects include a condotel in Bandung, West Java, as well as an office tower in Jakarta, plus a villa development project in Bali. These projects all differ in value, with the major one being the office tower in Jakarta, estimated to cost Rp870billion.

Majestic Land also develop property elsewhere in Asia.