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Plaza Marina is a three-floor strata-titled neighborhood retail center located in Wonocolo district, South Surabaya, at Jl. Margorejo Indah No.97-99, completed in 1999 by PT Tridjaya Kartika. With an estimated gross leasable area of 15,000-20,000 sqm, it functions primarily as an IT and electronics hub, featuring over 100 stalls selling mobile phones, computers, laptops, accessories, and repair services.
The ground floor includes a food court with local and fast-food options, while upper floors are dedicated to specialized vendors and service centers. Positioned adjacent to Puncak Marina condominium in an affluent residential area, it draws from local demographics including young professionals and families. In the broader Surabaya retail landscape, where Colliers reports an overall occupancy of 72.5% in H2 2024 amid no new supply, Plaza Marina achieves near-full occupancy due to its niche positioning, contrasting with higher vacancy in generalist malls.
Leasing advantages encompass affordable rents for specialist tenants (IDR 250,000-400,000 per sqm per month), stable local footfall supported by proximity to apartments and offices, and low competition within the electronics category locally.
Accessibility is facilitated by major roads like Margorejo Indah, though traffic congestion and limited public transport options pose challenges.
Tenant mix is dominated by IT/electronics (approximately 80%), with 15% F&B and 5% services, reflecting operational focus on utility over lifestyle. Potential drawbacks include aging infrastructure requiring maintenance, small parking capacity (around 200 spots), and exposure to e-commerce pressures eroding physical gadget sales, as Surabaya's retail market sees 3% annual occupancy growth projected to 2027 but saturation in 50+ centers.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 09:00 PM |
| Saturday | 10:00 AM — 09:00 PM |
| Sunday | 10:00 AM — 09:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
Wonocolo in South Surabaya hosts upper-middle-class residents with household incomes averaging IDR 20-30 million monthly, comprising young professionals aged 25-45 and families, per local demographic profiles. This supports consistent footfall of 5,000-8,000 visitors daily, peaking on weekends for gadget shopping and services, bolstered by nearby residential density of over 10,000 units and educational institutions. However, it lags behind prime malls' 50,000+ daily visitors, limiting broad retail appeal.
Competition and Market Position
Plaza Marina competes with nearby neighborhood centers like Maspion Square and regional malls such as Pakuwon City Mall and Galaxy Mall, which offer diverse tenant mixes and higher traffic. Surabaya's retail saturation, with 27.5% citywide vacancy per Colliers H2 2024, heightens risks for niche properties; electronics category faces 15% YoY e-commerce shift, potentially impacting sales by 10-15%, though its specialist focus provides differentiation in a market favoring lifestyle-driven leasing.
Lease Terms and Operational Factors
Rents for strata units range IDR 250,000-350,000 per sqm per month, with typical 3-5 year leases including turnover clauses and service charges of IDR 40,000-60,000 per sqm monthly, lower than prime malls' IDR 500,000+. High occupancy reflects demand, but aging facilities from 1999 construction and limited parking (200 spots) constrain growth; accessibility via roads is good, yet congestion and weak public transit reduce peak-hour efficiency, advising tenants to consider revitalization incentives.
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Surabaya
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