Jakarta Office Market Strengthens as AI and Data Center Firms Overtake Finance Sector as Top Tenants

According to a report by real estate consultancy JLL, Jakarta's commercial property market showed continued strength in Q3 2026, particularly in the office and retail sectors. CBD office occupancy reached 72%, supported by a lack of new supply that boosted demand for existing buildings. Demand was concentrated in Premium and Grade A buildings, with AI, data center, and fintech companies accounting for net absorption of over 25,000 square meters in Grade A offices—overtaking the financial services sector as the dominant tenant group. This pushed Grade A rents up 1.1% quarter-on-quarter.

In the retail sector, a new shopping mall (around 16,000 sqm) opened in East Jakarta, bringing total mall supply to 3.2 million sqm, with overall occupancy holding around 86%. The condominium market, however, remained cautious, with transaction volumes in Q3 2026 lower than the previous quarter. With no new project launches, demand continued to be driven by end users purchasing completed units.

On the investment side, Jakarta and Bali remain the top targets for property investors. Bali in particular continues to attract strong foreign capital interest in hotels, serviced apartments, and branded residences, a trend expected to continue through 2027. The logistics and warehousing sector also performed well, with modern warehouse occupancy in the Greater Jakarta area reaching 97%, driven by e-commerce and manufacturing demand.

These trends offer useful context for foreign tourists and residents interested in property markets and hospitality development in both urban centers and Bali.