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Cushman & Wakefield Global Cities Guide

Cushman & Wakefield | Jakarta | 2019 0 Jakarta, the capital and the largest city in , with a population of approximately 10 million, is Indonesia’s center of commercial activity. High per capita income, a dominant middle class and rising purchasing power have accentuated the demand for contemporary retail, paving the way for international retailers in the city.

Over time, shopping malls have seen improved occupancy owing to relocations and entry to the market from international retailers. There are a number of shopping malls present and under construction that will provide options for expansion across the city. The official metropolitan area, is known as Jabodetabek, a name formed by combining the first syllable of Jakarta, , , and Bekasi. The population of Greater Jakarta (Jabodetabek Region) is 32.45 million. JAKARTA OVERVIEW

Cushman & Wakefield | Jakarta | 2019 1 JAKARTA KEY RETAIL

PLAZA INDONESIA is the first high-end shopping center in Senayan City is another upmarket in Indonesia; it opened in 1990. Plaza Indonesia is located in Senayan, the central area of Jakarta. It is part of a mixed- the prominent corner of Jakarta’s famous landmark, the use development which includes the shopping center, an Selamat Datang (Welcome) Statue in . office tower and an apartment tower. Senayan City is There are numerous international and luxury fashion home to numerous high-end fashion tenants and brands including Aigner, Alexander McQueen, internationally recognized retailers and global brands. It is Balenciaga, Bally, Berluti, Bottega Veneta, Burberry, anchored by electronic store, the Food Hall, Bvlgari, Canali, Cartier, Carven, Celine, Chanel, Christian and Cinema XXI. Louboutin, Diane Von Furstenberg, Dior, Emporio Armani, Ermenegildo Zegna, ETRO, Fendi, Furla, Giuseppe Zanotti, GIVENCHY, Gucci, Hugo Boss, Jimmy Choo, PACIFIC PLACE Judith Leiber, Kenzo, Lanvin, Loewe, Longchamp, Louis The is another high-end shopping Vuitton, Marc Jacobs, MaxMara, Montblanc, Moschino, mall located in the Sudirman Central Business District, Mulberry, NOTTE, On Pedder, Rodo, Saint Laurent, . It is part of a mixed-use project, which Salvatore Ferragamo, Stella McCartney, Stuart Weitzman, comprises Pacific Place Mall, One Pacific Place office Tiffany & Co., Tod’s, Versace, Vertu and many more. tower, Ritz-Carlton Hotel and Ritz-Carlton Private Residence.

PLAZA SENAYAN is an upmarket shopping center in Pondok Indah Mall (PIM) is located in the wealthy Pondok Senayan, the central area of Jakarta which opened in Indah suburb of South Jakarta. It consists of two large 1995. It offers a diverse range of high-end shops and malls and one extension, the older 3-storey PIM 1 and the services. This mall remains as one of the most popular newer 5-storey PIM 2, plus Pondok Indah Mall Street spots to see and be seen in Jakarta, and it is a true Gallery, which are interconnected via pedestrian refection of Jakarta’s mall culture. Retailers such as shopping-bridges. Christian Dior, Gucci, Fendi, Louis Vuitton, Celine, Bally, Coach, MCQ by ALexander McQueen, Tory Burch, the Food Hall, Metro and Sogo exist within Plaza Senayan.

Cushman & Wakefield | Jakarta | 2019 2 JAKARTA KEY RETAIL

KOTA KASABLANKA GRAND INDONESIA is a one-stop retail center, located on a Grand Indonesia Shopping Town is currently the biggest major arterial road connecting two active districts of South shopping center in Indonesia with a total net lettable area Jakarta and with different target markets. It of approximately 138,500 sq.m. The mall targets the is currently one of the most sought after locations for upper market segment. The Grand Indonesia complex tenants to open new stores, with a total net lettable area comprises Grand Indonesia Shopping Town, Hotel of approximately 112,000 sq.m. The mall is part of a mix- Indonesia - Kempinski, Kempinski Residence and Menara used development comprising of two exsiting office BCA Office Tower. towers, an upcoming third tower, plus 7 upper-middle condominium towers. EMPORIUM PLUIT Emporium Pluit Mall is part of a mixed-use complex, MAL called CBD Pluit, which consists of a shopping mall, is a modern shopping and condominium and office towers. Located in the residential entertainment center located in Kelapa Gading, North area of Pluit, North Jakarta, Emporium Pluit targets the Jakarta. Kelapa Gading is an integrated residential area middle-upper segment. The mall is anchored by Carrefour targeted towards the middle to upper market. Mal Kelapa and Sogo. Gading Complex consists of Mal Kelapa Gading 1, 2, 3, and 5, and La Piazza, a structure dedicated to and cafes, which soon will be renovated with a new PIK AVENUE concept. PIK Avenue is a modern-lifestyle retail center located in a dense middle-upper to mpper residential and commercial estate north of Jakarta. Opened in 2016, PIK Avenue is CENTRAL PARK gaining attention for its active bazaars and events, as well Central Park in is a mixed-use complex, as a mall focused on its wide variety of new-to-market including two shopping malls (Central Park and Neo F&B tenants. Two major international hotel chains, SOHO), an office tower, 3 condominium towers, a SOHO, Mercure and Sofitel, are part of the retail centers’ and a Pullman Hotel. The shopping center is anchored by development area. Transmart Carrefour and Sogo Department Store and houses numerous well-known international fashion tenants and global brands.

Cushman & Wakefield | Jakarta | 2019 3 JAKARTA KEY RETAIL

SUMMARECON MAL BEKASI BOTANI SQUARE Summarecon Mall Bekasi, is one of the major shopping Botani Square is the biggest shopping mall in Bogor City, and entertainment centers in Bekasi, West Java, situated on Jalan Raya Pajajaran, the most prestigious Indonesia. This mall was opened on 28 June 2013 and commercial area in Bogor. This mall is integrated with has a retail area of around 60,000 sq.m. The shopping Hotel Santika Bogor and IPB Convention Hotel. In this center has various tenants and facilities such as the mall there is also a courtroom that is IPB International Downtown Walk, Food Temptation, Bekasi Food City and Convention Center (IICC). This mall was opened in 2006 Atrium which can be used for event and exhibition events. and has a lettable area of about 36,000 sq.m. This mall Summarecon Mall Bekasi has a middle class consumer has a strategic location as it can be accessed from the profile with main tenants such as Star Department Store, entrance or exit to Jagorawi Toll Road. This mall’s anchor the Food Hall Supermarket, Cinema XXI, Ace Hardware, tenants include Giant hypermarket, Citrus Department and Best Denki. Store, Electronic City, Cinema XXI and Gramedia bookstore. AEON MALL BSD CITY AEON Mall BSD City is located in the biggest township of MARGO CITY Greater Jakarta, BSD City. This mall has a lettable area of Margo City is a popular one-stop retail center in Depok, about 77,000 sq.m and is one of the major shopping West Java, with the majority of its target market centers in the Tangerang area. AEON Mall is a Japanese comprising of families and university students. It is located chain mall which has AEON department store and AEON on Jl. Margonda Raya, a highly dense major road, supermarket as its anchor tenants. surrounded by a few large university institutions, including the number one university in Indonesia, Universitas BINTARO XCHANGE Indonesia. It was opened in 2006 with a net lettable area of approximately 45,000 sq.m. Its anchor tenants include Bintaro XChange is a major one-stop retail center within XXI Cinema, Centro Department Store and Giant the middle to upper-middle residential area of Bintaro, Supermarket. South Tangerang, Banten. It is conveniently located as a major hub for various public transportations such as the Transjakarta bus line and close to the Jurang Mangu commuter train station. With a lettable area of 45,900 sq.m, Bintaro XChange houses one of the only two public ice skating rings in Greater Jakarta. Its anchor tenants include Farmer’s Market Supermarket and XXI Cinema.

Cushman & Wakefield | Jakarta | 2019 4 JAKARTA MARKET OVERVIEW

KEY RETAIL AREAS / CONSUMER MAJOR RETAILERS PRESENT NEW TYPICAL RANGE OF SHOPPING CENTERS PROFILE ENTRANTS RENT OF 150 UNIT SIZES SQ.M UNIT Plaza Indonesia Upper Balenciaga, Burberry, Bottega Veneta, Bvlgari, Celebrity Lumine; Off-White US$65-120/ 50-150 sq.m Fitness, Cinema XXI, Chanel, Christian Dior, Christian sq.m/month Louboutin, Fendi, , the Food Hall, Gucci, Louis Vuitton, Versace Plaza Senayan Upper Cinema XXI, Christian Dior, Fendi, the Food Hall, Gucci, Louis Tommy Hilfiger US$65-120/ 50-150 sq.m Vuitton, Metro, Sogo, Tory Burch sq.m/month Senayan City Upper Best Denki, Bottega Veneta, Burberry, Cinema XXI, Fitness Masari Store US$55-100/ 50-150 sq.m First, Gucci, Balenciaga, Salvatore Ferragamo, Saint Laurent, sq.m/month Tod’s Pacific Place Upper Best Denki, Blitz Megaplex, Bvlgari, Fitness First, Galeries Harlen + Holden US$50-100/ 50-150 sq.m Lafayette, Hermes, Kidzania, Louis Vuitton, Ermenegildo Zegna sq.m/month Pondok Indah Mall Middle-Upper , Cinema XXI, the Food Hall, Hero, Hugo Boss, Dockers US$60-100/ 50-150 sq.m Massimo Dutti, Longchamp, H&M, La Senza, Metro, Sogo sq.m/month Mal Kelapa Gading Middle-Upper Best Denki, Cinema XXI, Farmers Market, the Food Hall, Miniso US$30-40/ 50-150 sq.m Gramedia, Under Armour, Marks & Spencer, Star Department sq.m/month Store, Sogo, Timezone Mal Taman Anggrek Middle-Upper Cinema XXI, Fitness First, Hero, , Metro N/A US$40-60/ 50-150 sq.m sq.m/month Central Park Middle-Upper Best Denki, CGV Cinemas, Transmart Carrefour, Celebrity Dior Beauty US$40-60/ 50-150 sq.m Fitness, Gramedia, Aigner, Braun Buffel, Furla, Kipling, Sogo sq.m/month Emporium Pluit Middle-Upper Carrefour, Cinema XXI, Gramedia, H&M, Hush Puppies, Nike, Thai Designer US$30-50/ 50-150 sq.m Sogo sq.m/month Grand Indonesia Upper Ace Hardware, Best Denki, CGV Cinemas, Central, Fitness Tommy Hilfiger US$50-70/ 50-150 sq.m First, the Food Hall, Coach, Gramedia, H&M, Guess, Ranch sq.m/month Market, Seibu, Uniqlo Middle-Upper Celebrity Fitness, Cinema XXI, H&M, Hugo Boss, Lotte Mart, Hypebeastuff US$35-50/ 50-150 sq.m Metro, Uniqlo sq.m/month Kota Kasablanka Middle-Upper Carrefour, Celebrity Fitness, Cinema XXI, Sogo, Braun Buffel, N/A US$40-60/ 50-150 sq.m Kate Spade sq.m/month Lippo Mall Kemang Middle-Upper Ace Hardware, Cinema XXI, Matahari, Aldo, Skechers, Fitness Uniqlo US$30-50/ 50-150 sq.m First, Hypermart, Wowzonia sq.m/month

Cushman & Wakefield | Jakarta | 2019 *USD to IDR as per 31 January 2019 is 14,072.00 5 JAKARTA MARKET OVERVIEW

KEY RETAIL AREAS / CONSUMER MAJOR RETAILERS PRESENT TYPICAL RANGE OF SHOPPING CENTERS PROFILE RENT OF150 UNIT SIZES SQ.M UNIT Summarecon Mall Bekasi Middle Casio, Coconut Island, Daniel Wellington, Frank & Co, Giordano, Jack Nicklaus, US$20-35/ 50-150 sq.m Levi's, Mothercare, Samsonite, The Executive, Uniqlo, Urban Icon, Watch Studio, sq.m/month Wood, Wrangler, STAR Department Store, the Food Hall

Botani Square Middle Citrus Department Store, Pedro, Charles & Keith, Crocodile, Century Healthcare, US$30-50/ 50-150 sq.m Giant Supermarket, Giordano, Samsung Center, the Body Shop sq.m/month

AEON Mall BSD City Middle Lee, Melissa, Skechers, Wacoal, Bata, Charles & Keith, Clarks, Coconut Island, H&M, US$30-50/ 50-150 sq.m Giordano, H&M, Hush Puppies, Levi’s, Muji, Nike, Payless Shoes, Planet Sports, sq.m/month Uniqlo, AEON Supermarket, AEON Department Store.

Bintaro XChange Middle Adidas, Best Denki, Bata, C&F, Century, Coconut Island, Danar Hadi, Erafone, Et US$30-50/ 50-150 sq.m Cetera, Giordano, Guardian, Hush Puppies, Jockey, Lee Cooper, Golds Gym, Fun sq.m/month World, XXI Cinema, Centro Department Store, BX Ice Skating Rink, Margo City Middle Adidas, Bata, Batik Keris, Charles & Keith, Et Cetera, Giordano, Hush Puppies, Planet US$30-50/ 50-150 sq.m Surf, Payless Shoes, Wrangler, Wakai, Centro Department Store, Toko Gunung sq.m/month Agung Bookstore, Electronic City, XXI Cinema, NAV Karaoke, Timezone.

*USD to IDR as per 31 January 2019 is 14,072.00

Cushman & Wakefield | Jakarta | 2019 6 DEVELOPMENT TO WATCH OUT FOR

The Market Place at District 8

Total size (sq.m) 16,000

- Retail GLA -

- Leisure/entertainment - GLA

Planned opening date Q3 2019

Consumer profile Upper

ABOUT THE DEVELOPMENT

The Market Place @ District 8 is a high-end retail concept store within a newly completed upscale office and residential area located in the heart of Jakarta’s SCBD. It will host more than 150 stores offering a fusion of fashion, food and entertainment, and focuses on bringing in new brands into Indonesia such as % Arabica Coffee and Maison Kitsune.

DEVELOPMENT TO WATCH OUT FOR

AEON Mall at Sentul City

Total size (sq.m) 71,000

- Retail GLA -

- Leisure/entertainment - GLA

Planned opening date Q3 2019

Consumer profile Middle to Middle-Upper JAKARTA ABOUT THE DEVELOPMENT NEW DEVELOPMENT Not stopping at just two currently operating malls in Greater Jakarta, AEON Group has expanded its reach to Sentul City, a large residential area in Jakarta’s WATCH peripheral city of Bogor, West Java. AEON Mall Sentul is expected to be the biggest one stop retail center in the area, bringing in approximately 71,000 sq.m net lettable area with a large range of entertainment, F&B and fashion retailers.

Cushman & Wakefield | Jakarta | 2019 7 JAKARTA FOOD & BEVERAGE

Jakarta is the center of lifestyle and dining experiences in Indonesia.

It is a growing yet competitive retail market, plus one of the most innovative and dynamic markets in Indonesia, where consumers have been very receptive to new concepts and formats. The F&B sector has high penetration from international brands, especially in categories such as cafés or Quick Service Restaurants (QSRs) like , the Coffee Bean & Tea Leaf, Häagen-Dazs, KFC, McDonalds, Hut, Wendy’s etc. International brands from Asian countries are also beginning to crowd the F&B and sector. There is also competition from local players who have more expertise and cater to local tastes. More lifestyle retailers are expanding their reach in Indonesia, not only through online channels, but through opening retail stores or booths in major retail centers.

Cushman & Wakefield | Jakarta | 2019 8 JAKARTA FOOD & BEVERAGE MARKET OVERVIEW

KEY AREAS CONSUMER FOOD & BEVERAGE OPERATORS TYPICAL PROFILE RENT OF 350 SQ.M UNIT Plaza Upper Mother Monster, Eight Treasures, Kitchenette, Cork & Screw, US$ 65-120/ Indonesia Zenbu, Godiva, Shabu Shabu House, AW Kitchen by Akira sq.m/month Watanabe, DORÉ by LeTAO, Paul, Gyu - Kaku Prime, Paradise Inn, , Tei, I - ta Suki, SaladStop!, Ootoya, QQ Kopitiam, FATBURGER Plaza Senayan Upper Madagaskar, Union, , Bijin Nabe, Osaka Ohsho, AW US$ 65-1200/ Kitchen by Akira Watanabe, Yakiniku Esina Garden, Applebee's, sq.m/month Marche, Paradise Dynasty, TWG Tea Salon & Boutique, Bakerzin, Taichan, Godiva, Angus House, Paul, Eric Kayser Artisan Boulanger, Unacho, Chandara, de Luca Senayan City Upper Kintan Buffet, the Halal Guys, SaladStop!, K-Kitchen, Pancious, US$ 55-100/ Lewis & Carroll Tea, Hakata Ikkousha, Châteraisé, Portico sq.m/month Terrace Bistro, , Hokkaido Baked Cheese Tart, Sushi Tei, Zenbu, Kitchenette, En Japanese Dining, Abura Soba Yamatoten, Shukufuku, Shaburi Shabu Shabu, JJ Royal Bistro, PappaRich, the Duck King Pacific Place Upper Auntie Anne’s, Baskin Robbins, Beard Papa’s, Burgreens, Carl’s US$ 50-100/ Junior, Chamber, Cork & Screw, Crystal Jade Teochew sq.m/month , , Fish & Co., Genki Sushi, Go! Curry, Gyu-Kaku Prime, Ikkado Ichi, Lucaffe Riserva, Paradise Dynasty, Patchi, Paul, Penang Bistro, Pho 24, Poblano, Potato Head, SaladStop!, The Common Pondok Indah Middle-Upper Bakerzin, Baskin Robbins, Beard Papa, Billie Chick, Burgreens, US$ 60-100/ Mall C'est Bon, Carl's Junior, Chopstix, Coffee Club, Cold Stone PIM sq.m/month 2, Daily Bread Cafe, Din Tai Fung, Fish & Co, Haagen Dazs, Hokkaido Baby, Jittlada Thai Cuisine, Kenny Rogers, KFC, , Marugame Mal Kelapa Middle-Upper A&W, Abura SOba Yamatoten , Auntie Anne's, Bakerzin, US$ 30-40/ Gading Baskin Robbins, Black Canyon Coffee, , Carls' Jr, sq.m/month Chartime, Chopstix, , D'Crepes, Doner Kebab, Excelso, Famous Amos, Fish & Co, Gaya Gelato, Gyu-Kaku Japanese Yakiniku, Haagen Dazs, KFC, Krispy Kreme Mal Taman Middle-Upper A&W, Auntie Anne's, Bakmi GM, Baskin & Robbins, Bebek US$ 40-60/ Anggrek Sangeh, Bee Cheng Hiang, Biang Lamian & Dumpling, Bon sq.m/month Jeong, Bread Talk, Burger King, Cafe Bon Francais, , D'Crepes, Dapur Anggrek , Din Tai Fung - Chef Table, Domino Cake & Cupcakes, Doner Kebab, Dum Dum Thai Tea, Dunkin' Donuts Cushman & Wakefield | Jakarta | 2019 9 *USD to IDR as per 26 January 2018 is 13,310.71 JAKARTA FOOD & BEVERAGE MARKET OVERVIEW

KEY AREAS CONSUMER FOOD & BEVERAGE OPERATORS TYPICAL PROFILE RENT OF 350 SQ.M UNIT Central Park Middle-Upper Kushiya Monogatari, Kintan Buffet, Amausaan Uji Matcha, Carl's US$ 40-60/ Jr., , Uncle Tetsu, Porto Bistreau, Seribu Rasa, Zenbu, sq.m/month TGI Fridays, Genki Sushi, Beatrice Quarters, Paradise Dynasty, Ikkudo Ichi, The Duck King, Sushi Tei, Maison Tatsuya, Suan Thai Bistro, Washoku Sato, Kitchenette, Nanny's Pavillon, The Good Stuff (TGS), KOI Cafe, Hachi Hachi Bistro, , Pizza E Birra, Gelato Paradise, Gyoza Bar, Gyoza Bar, Chick'N Roll Emporium Pluit Middle-Upper KOI Cafe, Kintan Buffet, Shaburi Shabu Shabu, Sushi Tei, Nama US$ 30-50/ Sushi by Sushi Masa, Hongkong Sheng Kee Dessert, Dunkin' sq.m/month Donuts, Menya Sakura, Pho Street, Bar.B.Q Plaza, Fish & Co., Zenbu, Tamoya Udon, Fiesta Steak, Pancious, Golden Egg , May Star, Genki Sushi, Sour Sally, La Ricchi Gelato, Dum Dum Thai Drinks Grand Upper Paulaner Brauhaus, Skye, Sushi Go!, Social House, Union Deli, US$ 50-70/ Indonesia Union Deli, Greyhound Cafe, OJJU, Shaburi Shabu Shabu, sq.m/month Olivier, Nomz Kitchen & Pastry, Ikkudo Ichi, Lewis & Carroll Flower Market, KOI Cafe, Sushi Tei, Tom Sushi, Djournal Coffee, Caffè Milano, Marche, Kokoro Mazesoba, Sour Sally, Itacho Sushi, BAKE Cheese Tart, The People's Cafe, Popolamama, Abura Soba Yamatoten Gandaria City Middle-Upper A&W, Almond Tree, Auntie Anne's, Bakerzin, Basilico, Baskin US$ 35-50/ Robbins, Bing Go, Boat Noodle, Breadlife, Breadtalk, Burger sq.m/month King, Cake-A-Boo, Chopstix, Chung Gi Wa, Coco Ichinbanya, Coffee Bean, Crystal Jade, Cupbop, D'Crepes, Daily Fresh, Dairy Queen, Djournal Coffee, Doner Kebab, Douwe Egberts, Eric Kayser, Excelso, Famous Amos, Figaro, First Love Pattiserie, Fish & Co., Fook Yew, Francis Artisan Bakery, Haagen Dazs, J.Co Donuts & Coffee, KFC Kota Middle-Upper A&W Restaurant, Auntie Anne's, Baskin Robbins, Bread Of US$ 40-60/ Kasablanka Kurtos, Bread Talk, BreadLife, Burger King, Chatime, Chick N sq.m/month Roll, Churreria, Cold Stone,Comebuy, D'Crepes, Genki Sushi, Hokkaido Baked Cheese Tart, Ikkudo Ichi, Imperial Kitchen, Island Creamery, Jamba Juice, Kenny Rogers Roasters, KFC, Killiney Kopi, Kkuldak, Liberica, Marugame Udon, Old Chang Kee, , Raffel's Lippo Mall Middle-Upper Bon Chon Chicken, Dam, Eatery, Ikuze, Imperial Jade, Kafe US$ 30-50/ Kemang Betawi, Kopi Kitchen, Ootoya, Urban Bistro, White Elephant sq.m/month

Cushman & Wakefield | Jakarta | 2019 10 *USD to IDR as per 26 January 2018 is 13,310.71 LINI DJAFAR Cushman & Wakefield Indonesia Building 2, 15/F Jakarta 12190 T +62 21 2550 9560 [email protected]

No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. © 2019 Cushman & Wakefield LLP. All rights reserved.