Property consultant Jones Lang LaSalle (JLL) predicts the number of skyscrapers in the Indonesian capital of Jakarta will double by the year 2015, citing CTBUH data. The city will have 250 buildings taller than 150 meters by 2020, the consultancy says.
There were only 40 tall buildings in Jakarta in 2009, but the number had jumped to 75 in 2012, JLL says.
“Big institutional investors are returning to Indonesia, creating big corporate growth in the country and high demand for properties,” Anton Sitorus, head of research at JLL's Indonesia office, told the Jakarta Globe. “It's the beginning of a property boom in Indonesia."
The company predicts 3.2 million square meters (34 million square feet) of additional office space will appear in the next six years in the city's CBD, joining the existing 4.3 million square meters (46 million square feet).
Jakarta's biggest project is The Signature Tower, a 638-meter (2,093-foot) tower which would be the fifth tallest building in the world upon completion. The developers recently announced that they are still seeking investors for the project.
Read the full article here.