Abstract This study addresses three interrelated research questions: first, to what extent has the socioeconomic development of Jakarta Metropolitan Area (JMA) reflected the “global cities” phenomenon?; second, to what degree has this process affected the internal structure of JMA, notably in land use and urban physical structure?; and third, to what extent could the recent economic and monetary crises in Indonesia affect urban development in JMA in general? The process of urban restructuring in JMA is inevitable. From a development policy perspective, what is urgently needed is to be able to manage this process for the benefits of national, regional and urban development. The recent economic and monetary crises which badly hit Indonesia, however, basically show that the globalization does not only have positive impacts but also can have negative impacts on urban development.