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Setiabudi One is a compact retail and dining destination situated in the Kuningan Central Business District of South Jakarta, at Jl. H.R. Rasuna Said Kav. 62. Developed in the 1970s as part of the Plaza Setiabudi complex, which includes Setiabudi Two and Atrium Setiabudi, it spans approximately 20,000 square meters of gross leasable area, with a focus on food and beverage outlets rather than extensive fashion retail.
The tenant mix emphasizes casual dining and quick-service restaurants, featuring international chains such as Burger King, Starbucks, Subway, HokBen, and The Duck King, alongside local favorites like Cinnamons and Itasuki. Entertainment options include a Cinema XXI multiplex, contributing to its appeal as a hangout spot for office workers and nearby residents. In the competitive Jakarta retail market, where overall occupancy hovers around 75% as per Colliers and Cushman & Wakefield reports, Setiabudi One maintains stable tenancy due to its prime CBD location, benefiting from high lunchtime footfall from surrounding corporate offices.
Accessibility is strong, with proximity to TransJakarta bus stops (Kuningan Madya and Karet Kuningan), the LRT Setiabudi station, and major roads, though traffic congestion in the area can pose challenges.
Demographic profile targets middle to upper-middle class professionals aged 25-45, drawn from the business district's workforce of over 100,000 daily commuters.
Leasing advantages include flexible short-term options for pop-ups and lower base rents compared to luxury malls, estimated at IDR 600,000-800,000 per square meter per month, with turnover rents tied to sales performance. However, the property's aging infrastructure from its 1977 origins may require tenant investments in fit-outs, and market saturation in F&B categories limits expansion potential for non-food retailers.
Operational quality is adequate, with standard amenities like free WiFi, valet parking, and ATMs, but lacks the modern attractions of newer competitors.
Overall, it suits budget-conscious lessees seeking steady traffic from office crowds, though risks include economic sensitivity in the CBD and competition from vibrant nearby centers like Epicentrum Walk and Kota Kasablanka.
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Hours of Operation
Hours
| Monday | 10:00 AM — 10:00 PM |
| Tuesday | 10:00 AM — 10:00 PM |
| Wednesday | 10:00 AM — 10:00 PM |
| Thursday | 10:00 AM — 10:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 10:00 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
The primary demographic comprises young professionals and office workers in the Kuningan CBD, aged 25-45, with middle to upper-middle income levels, reflecting the area's status as a financial hub hosting multinational corporations. Footfall peaks during weekdays at lunch hours, estimated at 5,000-7,000 visitors daily based on similar CBD malls, driven by proximity to over 50 office towers. Weekend traffic is lower, around 3,000, appealing to families and casual diners. This profile supports consistent sales for F&B tenants but may limit appeal for luxury or family-oriented retail due to the business-focused crowd and urban density.
Competition and Market Position
Setiabudi One occupies a niche as a convenient, dining-centric mall in a saturated South Jakarta market, competing with larger venues like Kota Kasablanka (occupancy 85%, broader tenant mix) and Epicentrum Walk (entertainment-focused). Its strengths lie in affordability and location, but weaknesses include limited retail variety and older facilities compared to modern rivals. Market reports indicate Jakarta retail vacancy at 25%, with CBD properties benefiting from recovery post-pandemic, yet saturation in casual dining poses risks of tenant churn. Positioning favors quick-service operators over high-end brands, with potential challenges from e-commerce growth eroding physical footfall by 10-15% annually.
Lease Terms and Risks
Lease structures typically offer 3-5 year terms with base rents of IDR 600,000-800,000 per sqm/month, plus 8-12% turnover rent, negotiable for anchor tenants. Advantages include prime visibility and shared marketing with the Plaza Setiabudi complex. Risks encompass infrastructure maintenance issues in the 45-year-old building, potential access disruptions from Jakarta's traffic, and economic volatility affecting office occupancy (currently 80% in Kuningan). Retailers should assess category fit, as F&B dominates 70% of space, and consider diversification needs amid rising operational costs like utilities in a high-density area.
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Jakarta Selatan
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Jakarta Selatan
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