{"id":4012,"date":"2019-09-11T10:56:34","date_gmt":"2019-09-11T10:56:34","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=4012"},"modified":"2021-06-04T14:38:34","modified_gmt":"2021-06-04T07:38:34","slug":"capital-move-wont-come-at-expense-of-jakarta-property-market-cbre","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/capital-move-wont-come-at-expense-of-jakarta-property-market-cbre\/","title":{"rendered":"Capital move won&#8217;t come at expense of Jakarta property market: CBRE"},"content":{"rendered":"<p>Relocation in fact augurs opportunities for Indonesia&#8217;s premier metropolis<\/p>\n<figure id=\"attachment_4013\" aria-describedby=\"caption-attachment-4013\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-4013\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/09\/shutterstock_1464367997.jpg\" alt=\"\" width=\"1000\" height=\"666\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/09\/shutterstock_1464367997.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/09\/shutterstock_1464367997-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/09\/shutterstock_1464367997-768x511.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-4013\" class=\"wp-caption-text\">Sunset view of Jakarta with skyscrapers and air pollution. Creativa Images\/Shutterstock<\/figcaption><\/figure>\n<p>Jakarta will remain Indonesia\u2019s business and financial hub in the aftermath of the capital\u2019s relocation from Java to Borneo, opines market observers with CBRE Research.<\/p>\n<p>The archipelagic nation\u2019s future capital will only play host to political and administrative functions, relegating the more commercial aspects to the country&#8217;s largest city.<\/p>\n<p>\u201cAny downside for the Jakarta property market will therefore be limited, as while some companies may set up a representative office in the new capital, most occupiers will retain their existing presence in Jakarta, which will continue to play host to the stock exchange, essential financial and business organisations and company headquarters,\u201d CBRE Research said in a statement.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/5th-propertyguru-indonesia-property-awards-2019-shortlists-the-countrys-finest-developers-in-49-categories\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: 5th PropertyGuru Indonesia Property Awards 2019 shortlists the country\u2019s finest developers in 49 categories<\/strong><\/a><\/p>\n<p>Last month, President Joko \u2018Jokowi\u2019 Widodo formally requested permission from parliament to transfer Indonesia\u2019s capital from Jakarta to Kalimantan.<\/p>\n<p>If anything, the relocation will lead to new investment and development opportunities for Jakarta. Authorities recently mulled the idea of selling or leasing out state-owned buildings in the city\u2019s prime areas for developers to redevelop during the relocation. In turn, development firms would be compelled to develop facilities and infrastructure in the new capital.<\/p>\n<p>A large portion of such government-owned assets will be older properties, however, making them a challenge to let in what is an already oversupplied market, CBRE researchers cautioned.<\/p>\n<p>More than one million government employees are expected to move to the new capital over the next decade, galvanising investors and developers to capitalise on real estate opportunities. Migrants will require housing, roads, railways, offices, and other supporting infrastructure, market observers predict.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Relocation in fact augurs opportunities for Indonesia&#8217;s premier metropolis<\/p>\n","protected":false},"author":8,"featured_media":20267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[154,158,155],"class_list":["post-4012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-indonesia","tag-jakarta","tag-kalimantan","news_country-indonesia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Capital move won&#039;t come at expense of Jakarta property market: CBRE | Asia Property 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