Jakarta to Build More Shopping Malls

VIVAnews - The policy that the Jakarta administration issued on the moratorium of the development of shopping malls in 2011 is deemed ineffective. 

Research Colliers International Indonesia said more developments are to come in the Indonesian capital until 2015.

"In 2014, several shopping malls will be constructed. In fact, it will continue until 2015," said Research Colliers International Indonesia Associate Director, Ferry Salanto.

Ferry said the coming developments are possible as the developers have been granted building permit prior to the issuance of the moratorium.

Data from Colliers shows that the shopping malls under-construction, and are expected to be officiated this year, include Kemang Village, Menteng Square, Kota Kassablanka, Pulomas X-'Venture, Ciputra World Jakarta, and Pondok Indah Street Gallery.

Colliers calculates that this year the supply of shopping malls in Jakarta will cumulatively grow to 5.6 percent, which equals 335,456 square meters, higher than last year's 4.5 percent.