Surabaya Mall Kiosk Tenant Numbers Predicted to Increase in 2022

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Dzulfiqar Fathur Rahman 25/07/2022 15:00 WIB

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Colliers International estimates that the occupancy rate of shopping malls in Surabaya increased to 72.9% in 2022.

Occupancy Rate of Shopping Malls in Surabaya (2018–2022*)

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Surabaya Mall Kiosk Tenant Numbers Predicted to Increase in 2022

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Occupancy Rate of Shopping Malls in Surabaya (2018–2022*)

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Mall kiosk rentals in Surabaya, East Java, are predicted to rebound in 2022.

Colliers International estimates that the occupancy rate of shopping malls in Surabaya will increase to 72.9% in 2022, ending a declining trend observed since at least 2018 and worsening since the pandemic.

"The impact of the pandemic caused some anchor tenants to leave/not renew their leases in several malls," Colliers International explained in its Jakarta-Surabaya-Bali Q2 2022 Property Market Conditions report.

"The commitment of several tenants and the operation of tenants currently undergoing fitting out will slightly increase the occupancy rate in Surabaya at the end of 2022. The limited number of upcoming supplies will also be a factor that can drive the increase," it continued.

Colliers International also anticipates an increase in mall occupancy due to mall operators' continued efforts to hold events and exhibitions until the end of 2022.

A similar trend is observed in DKI Jakarta. According to Colliers International, the occupancy rate of shopping malls in the capital city is expected to increase to 71.2% in 2022 from 70.9% the previous year.

According to Google data, the number of visitors to retail and recreation venues in Indonesia on July 21, 2022, was 13% higher than the normal level observed in the January-February 2020 period.

(Also Read: Alfamart vs Indomaret, Who Has the Most Outlets?)

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Surabaya Mall Kiosk Tenant Numbers Predicted to Increase in 2022

Surabaya Mall Kiosk Tenant Numbers Predicted to Increase in 2022

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Surabaya Mall Kiosk Tenant Numbers Predicted to Increase in 2022

Surabaya Mall Kiosk Tenant Numbers Predicted to Increase in 2022

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