Top Commercial Real Estate Companies in Indonesia

The commercial real estate industry in Indonesia is a significant contributor to the country's economy, providing office spaces, retail spaces, and other commercial properties for businesses. In 2022, the industry experienced notable growth and success, thanks to several factors, including government initiatives and the increasing demand for commercial spaces. In this article, we will discuss various aspects of the commercial real estate industry in Indonesia, including its GDP and employment, factors contributing to its growth and success, each sub-sector's growth and comparison to previous years, key trends, challenges, and future outlook.

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CompanyHeadcountContactDescriptionDecision Maker
PT. BHUMYAMCA SEKAWAN69 (blank)
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PT Bhumyamca Sekawan was established in 1974. The company is a joint venture company between Jala Bhakti Yabshum and Buana Pranata Indonesia, with a famous office compound called Cilandak Commercial Estate. Its a facility that occupies more than 11 hectares consisting of offices, warehouses and workshops for businesses. It is the first premier facility of its kind in Jakarta.

PT. SUARA PUA BERKAH MANDIRI1 +64 4 385 8868
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The initial project formed in 2018 namely as Kencana Hills Residence located in Bandung, West Java, aiming to build more than 200 housing units and commercial areas such as shophouse and other supporting amenities.

BALI REAL ESTATE CONSULTANTS9 +62 878-6005-3153
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BaliRealEstateConsultants is a young & dynamic full-service, boutique Real Estate Consultancy/ Agency specialised on unique & luxury properties with more than 5 years of experience realising commercial & private dreams on Bali, Indonesia and beyond. With a pool of experts of legal advisors, notaries, architects,contractors and interior designers we offer complete project management specifically targeted to your needs and budget.

TUNAS GROUP33 +62 778 471818
admin@tunasproperty.com

Tunas Group was founded in 2000 when the group launched its first project, the “Tunas Industrial Estate” in Batam. The group rapidly grew and Tunas has become the largest industrial estate in the Batam Center area. In 2006, the group ventured into power generation business to meet the power demands of the market. Backed by the fast-paced economic growth in Batam, Tunas expanded into the commercial real estate market. The group built affordable housing complexes and shop-houses with recreational facilities which aim to cater to mass citizens who wish to acquire a place to stay and start a business at the same time. This unique project came to be known as Tunas Regency. In 2012, Tunas launched its first business in Jakarta to provide affordable warehousing spaces in Daan Mogot, the center of warehousing and distribution. Continuing with the same momentum, Tunas also introduced Tunas Bitung in 2014, in an equally strategic location in Jakarta, to provide more warehousing and industria…

HARCOURTS SEVEN STONES7 +62 877-7711-7719
hello@sevenstonesindonesia.com

Were here to help people. Lets be honest, thats not how most real estate people would introduce themselves. But were not most real estate people. We are Harcourts Seven Stones! Harcourts Seven Stones is a property business with a simple vision; do good ... then do well. Were a company with passion and empathy and experience and were confident in our conviction. Were headquartered in Bali, which is where most of our energies are focused but we have strong interests in residential and commercial real estate throughout Indonesia especially in Jakarta, Surabaya, as well as Indonesians Eastern Islands. If you need some friendly advise and guidance then why not email get in touch and follow us on Linkedin and Facebook, or email us sevenstones@harcourts.co.id or hello@sevenstonesindonesia.com

VROFFICES2 +62 21 27899869
contact@vroffices.co

VROffices is the next generation premium work spaces for the entrepreneurs to build The Next Big Thing in Indonesia. It is a hybrid workspace for effective Workstyle designed to improve productivity and innovation. We provide one stop solution for all business services including private offices, coworking space, meeting room, virtual office, company incorporation, call answering, etc.

WIRARAJA INDONESIA19 +62 778 7100798
info.wyi@wiraraja.com

Wiraraja Indonesia was established in 1998 in Batam City, Riau Island, Indonesia. Wiraraja Indonesia engages in Industrial Estate Management & Infrastructure, Manufacturing, Mining, and Renewable Energy. We are always seeking the most-fit talent! | career@wiraraja.com | www.career.wiraraja.com For further information on our Company, do hit us up! | General inquiries : info@wiraraja.com Industrial Park : info.park@wiraraja.com Manufacturing : info.wyi@wiraraja.com Mining : wirarajakarimun@wiraraja.com

RISCON GROUP191 (blank)
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PT. Riscon Victory adalah perusahaan pengembang (developer) dan jasa konstruksi yang bergerak dibidang perumahan (landed house). Dengan mengedepankan budaya kerja yang jujur, kreatif, professional, dan mengikuti perkembangan teknologi yang ada, PT. Riscon Victory mampu hadir ditengah-tengah masyarakat sebagai perusahaan yang menghasilkan produk-produk unggul dan mampu bersaing dengan perusahaan-perusahaan lainnya.

PT. MELIUM NUSANTARA17 +62 361 738097
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Melium Nusantara operates Seminyak Village, a boutique lifestyle mall featuring a unique selection of international and home-grown fashion brands, concept stores with an array of gifts, arts and crafts from Balis finest, specialty dining concepts, exceptional spa facilities and pampering services. Located in the heart of Seminyak, Balis most sought-after destination, Seminyak Village offers an iconic and stylish setting filled with natural light through its skylight dome, providing an exclusive experience to enjoy and indulge.

NAGAINDO - LAND INVESTMENT & LIFESTYLE7 +62 813-5332-9501
contact@naga-indo.com

South Lombok Natural Beauty Is Calling! NAGAINDO offers premium land for sale through a unique & balanced property portfolio of serviced plots, ocean view hill sites and unspoilt beachfront land, all in South Lombok, Indonesia. Our mission is to source the best land and smartly support our clients during the course of their projects. The secret island, long known as a surfing mecca, has a very unique charm mixing its distinctive local culture with its Muslim heritage. But more than that, it offers pristine beaches flanked by intimate coves and dramatic rocky headlands. Boasting several of the best beaches in Asia, the south coast has plenty more to offer from diving, paragliding etc... to eventful day and nightlife. WE OFFER THE RIGHT FRAMEWORK FOR A SUCCESSFUL INVESTMENT Working with a well established network of key players on the ground and abroad, we have spent the last 10 years forming what we feel is the best overall team to cater for all the needs of the investors. We also …

OSVAS.COM4 +62 811-1085-233
cs@osvas.com

Were delivers Integrated solutions to landlords, tenants and investors of real estate maximizing the returns on investments through build, operate, integrate with new channels of generating revenues beyond traditional leasing.

PT PP PROPERTI TBK637 +62 21 87792734
investor.relations@pp-properti.com

As a property developer in Indonesia, PT PP Property Tbk is a subsidiary of PT PP (Persero) Tbk and BUMN (Badan Usaha Milik Negara) that have been experienced in the field of construction services, realty and property, EPC and investment since 1953. Now, our focus is on managing a diverse portfolio of housing, offices, apartments as well as retail and commercial property in the industrial sector in Indonesia. With the vision of Becoming a Leading Developer Big 5 in Indonesia“, which adds value to the stakeholders and environmental care, we are determined to develop the products and services of superior properties so that the residents can grow with healthy mind and soul. It is our firm decides to become mission, as our contribution to building a better Indonesia.

CENTURY21 AIRIS2 +62 21 29882121
helpcenter@century21.co.id

PT. Vesco Kelana Cakrawala (Century21 Airis) is a Creative Real Estate Agency Company based in Jakarta We are one of the biggest Real Estate Brokerage Franchise in indonesia and the world! Join our family and achieve your dream Century21 Airis One Stop Solutions for your property needs

PT ANGKASA PURA PROPERTI235 (blank)
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PT Angkasa Pura Properti merupakan anak perusahaan dari PT Angkasa Pura I (Persero) yang beroperasi secara efektif pada 6 Januari 2012. Pendirian Angkasa Pura Property merupakan pengembangan lini bisnis Angkasa Pura I yang awalnya hanya memperoleh pendapatan dari kegiatan aeronautika. Namun, seiring dengan perkembangan Bandara Udara yang kini tidak lagi hanya dijadikan sebagai tempat beroperasinya operator maskapai penerbangan dan lalu lintas penumpang, Angkasa Pura Property hadir dalam menjalankan kegiatan bisnis pengembangan properti, manajemen properti dan utilitas serta jasa konstruksi bangunan maupun fasilitas pendukung lainnya. Konsep Airport City memegang peranan yang penting dikarenakan proses bisnis yang dijalankan akan terintegrasi satu dengan yang lainnya. Layanan dan fasilitas properti dirancang untuk mempermudah penumpang selama berada di sekitar area bandara, yang pada akhirnya aktivitas ekonomi di bandara akan semakin mudah dan berkembang lebih pesat. Untuk itu, Angkasa…

SATRIA MEGA KENCANA, TBK.20 +62 21 72781782
corsec@satriamegakencana.com

Satria Mega Kencana, tbk (SMK) is an Indonesian-based publicly listed company that operates within the real estate industry. Through its subsidiaries, SMK has developed, invested, and acquired commercial real estate properties across Indonesia that mainly operates within the hotel and hospitality sub-sector of the real estate industry. SMK continues to maximize shareholders value and assets preservation through its professional management and well qualified operators of its properties.

TUNAS GROUP17 +62 778 471818
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Tunas Group was founded in 2000 when the group launched its first project, the “Tunas Industrial Estate” in Batam. The group rapidly grew and Tunas has become the largest industrial estate in the Batam Center area. In 2006, the group ventured into power generation business to meet the power demands of the market. Backed by the fast-paced economic growth in Batam, Tunas expanded into the commercial real estate market. The group built affordable housing complexes and shop-houses with recreational facilities which aim to cater to mass citizens who wish to acquire a place to stay and start a business at the same time. This unique project came to be known as Tunas Regency. In 2012, Tunas launched its first business in Jakarta to provide affordable warehousing spaces in Daan Mogot, the center of warehousing and distribution. Continuing with the same momentum, Tunas also introduced Tunas Bitung in 2014, in an equally strategic location in Jakarta, to provide more warehousing and industria…

WG GROUP PROPERTY21 +62 852-2111-1105
admin@wggroup-property.com

WG Property is a holding company engaged in various businesses and has several types of business units, including Residential, Industrial Warehouse, Shopping Center, Sport Center, and Guest House sectors, which have more than 40 years of experience. We are committed to always prioritizing quality in running our business and providing meaningful contributions to consumers and society. Through perseverance, enthusiasm, a solid and professional workforce supported by management, we are committed to the sustainable development of our business efforts. #GrowwithWG

COLDWELLBANKER INDONESIA24 (blank)
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Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national realty brand in the United States and today has a network of nearly 97,000 real estate agents working in more than 3,300 offices in 49 countries and territories.

PT ANGKASA PURA PROPERTI166 (blank)
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PT Angkasa Pura Properti merupakan anak perusahaan dari PT Angkasa Pura I (Persero) yang beroperasi secara efektif pada 6 Januari 2012. Pendirian Angkasa Pura Property merupakan pengembangan lini bisnis Angkasa Pura I yang awalnya hanya memperoleh pendapatan dari kegiatan aeronautika. Namun, seiring dengan perkembangan Bandara Udara yang kini tidak lagi hanya dijadikan sebagai tempat beroperasinya operator maskapai penerbangan dan lalu lintas penumpang, Angkasa Pura Property hadir dalam menjalankan kegiatan bisnis pengembangan properti, manajemen properti dan utilitas serta jasa konstruksi bangunan maupun fasilitas pendukung lainnya. Konsep Airport City memegang peranan yang penting dikarenakan proses bisnis yang dijalankan akan terintegrasi satu dengan yang lainnya. Layanan dan fasilitas properti dirancang untuk mempermudah penumpang selama berada di sekitar area bandara, yang pada akhirnya aktivitas ekonomi di bandara akan semakin mudah dan berkembang lebih pesat. Untuk itu, Angkasa…

PT RIZQI JAYA GUNA3 (blank)
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Manufacturer and Exporter of Rattan Furniture, we can provide all the furniture that you need Housing and Building Developer, we construct residential and commercial real estate

Top Commercial Real Estate Companies in Indonesia

Key Statistics from 2022

The commercial real estate industry in Indonesia is a major contributor to the country's GDP, generating significant revenue each year. According to the Indonesia Real Estate Association (REI), the industry's contribution to the country's GDP in 2022 was estimated to be around IDR 400 trillion, representing an increase of 4.5% compared to the previous year. The industry also provides employment opportunities for thousands of people, making it an important source of employment in the country.

Factors Contributing to its Growth and Success

Several factors have contributed to the commercial real estate industry's growth and success in Indonesia. One of the main factors is the government's initiatives to promote infrastructure development and foreign investment. The government has implemented several policies to attract foreign investment in the country, such as offering tax incentives and simplifying bureaucratic processes.

Another factor is the increasing demand for commercial spaces from businesses. The growth of the economy, rising income levels, and increasing urbanization have all contributed to the growth of the commercial real estate industry in Indonesia.

Each Sub-sector's Growth and Comparison to Previous Years

The commercial real estate industry in Indonesia is composed of several sub-sectors, including office spaces, retail spaces, and industrial spaces. In 2022, the office spaces sub-sector saw the most significant growth, with rental rates increasing by 5.2%, reaching IDR 2.5 million per square meter. The retail spaces sub-sector also saw growth, with rental rates increasing by 4.8%, reaching IDR 4 million per square meter. The industrial spaces sub-sector experienced growth, with rental rates increasing by 4.2%, reaching IDR 2 million per square meter.

Key Trends

One of the key trends in the commercial real estate industry in Indonesia is the adoption of new technologies to improve building design and management. The industry is embracing digitalization, automation, and artificial intelligence to streamline operations, reduce costs, and improve sustainability. Another trend is the growing emphasis on sustainability and green building, such as the use of renewable energy and sustainable building materials.

Challenges

Despite the commercial real estate industry's growth and success in Indonesia, there are still several challenges that the industry faces. One of the main challenges is the limited availability of high-quality commercial spaces, particularly in popular business districts. Another challenge is the need for more efficient and sustainable building designs and management practices to reduce costs and environmental impact.

Future Outlook

The future outlook for the commercial real estate industry in Indonesia is positive, with continued growth and development expected in the coming years. The government's initiatives to promote infrastructure development and foreign investment, coupled with the increasing demand for commercial spaces, are expected to drive growth and investment in the industry.

One of the key areas of focus for the industry will be the development of more high-quality and sustainable commercial spaces to meet the growing demand from businesses. The industry is also expected to adopt more advanced technologies, such as the use of artificial intelligence and smart building systems, to improve efficiency and reduce costs.

Finally, the industry is expected to continue to emphasize sustainability and green building practices, as more stakeholders place greater emphasis on environmental impact. This trend is expected to grow in importance, as the industry seeks to reduce its carbon footprint and meet global sustainability goals.

Conclusion

In conclusion, the commercial real estate industry in Indonesia has experienced significant growth and success in 2022, thanks to several factors, including government initiatives and the increasing demand for commercial spaces. The industry's contribution to the country's GDP has increased, and it continues to provide employment opportunities for thousands of people. Despite the challenges the industry faces, the future outlook is positive, with continued growth and development expected in the coming years.

The industry's adoption of new technologies and sustainable building practices, coupled with increased public awareness and participation, will be critical to its success and sustainability in a rapidly changing global market. The government's initiatives to promote infrastructure development and foreign investment will also be crucial to the industry's growth and competitiveness.

Overall, the future outlook for the commercial real estate industry in Indonesia is positive, with continued growth and development expected in the coming years. The industry's contribution to the country's economy and business development will be crucial to Indonesia's development and global competitiveness.

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By Melissa Goh
Published on 12 May 2023