SALES of industrial land in Jabodetabek in the second quarter of 2024 increased, dominated by demand from automotive sector companies related to electric vehicle factories.
Cushman Wakefield Indonesia’s Strategic Consulting Director, Arief Rahardjo, said that the total industrial land sales transactions during the second quarter of 2024 were recorded at 182.90 hectares, an increase of 184 percent compared to the previous quarter.
Meanwhile, the total land sales transactions recorded until the first semester of 2024 reached 247 hectares and are expected to continue to grow until the end of 2024, driven by the many active requests from foreign companies planning to set up factories in Indonesia.
“The automotive sector related to electric vehicles (EV) dominates sales of around 70 percent of total land transactions in the first half of 2024,” said Arief as reported by Between.
This shows the growth trend of the electric vehicle industry business in Indonesia.
Arief added that the supply of industrial land in the Jabodetabek area remained the same as the previous quarter, which was 16,628 hectares, because there was no new industrial land supply entering the market during the second quarter of 2024.
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He said the industrial area remains focused on promoting existing land supply to potential buyers. Future expansion of industrial land supply is expected to come from industrial areas along the eastern corridor, Bekasi, Karawang, and Subang.
Then, the average occupancy rate of rented warehouses in the Jabodetabek area in June 2024 decreased by 0.10 percent compared to the previous quarter to 86.20 percent.
However, the warehousing market remains competitive with new supply continuing to increase. Demand patterns are expected to remain similar, with major demand coming from the automotive and logistics sectors driven by e-commerce activity. (Z-6)
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