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Article: Owner occupation raises average occupancy rate
- Article from:
- Indonesian Commercial Newsletter
- Article date:
- April 11, 1994
CopyrightCOPYRIGHT 1994 P.T. Data Consult, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In the early 1980s, the additional supply of office space could be absorbed by the growing number of foreign oil companies. On Procon's record, the average occupancy rate of office buildings in 1983 reached 100%. The average occupancy rate declined as the supply of office space increased, reaching its lowest point in 1985 at 85.5%.
The deregulation of the banking sector by the Government in 1988 led to an increase in the average occupancy rate of office buildings in the following years, as a result of an increase in the demand for office space from the financial and banking sector. The average occupancy rate of office buildings in 1989 practically reached 100%. ...