Lippo Malls Indonesia Retail Trust Archives - Inside Retail Asia
The Indonesian retail sector has begun to shut down in the wake of the coronavirus crisis, with shopping centres and retail chains voluntarily closing the doors to non-essential categories.
Reit Lippo Malls Indonesia Retail Trust plans to buy Lippo Mall Puri in West Jakarta for US$261.6 million.
Singapore-listed LMIRT Management, manager of Lippo Malls Indonesia Retail Trust has achieved a third quarter year-on-year DPU increase of 11.6 per cent.
Singaporean mall operator Lippo Malls is optimistic about its fortunes in Indonesia after reporting a high occupancy rate and modest rental growth. Lippo Malls Indonesia Retail Trust has 16 retail malls and seven retail spaces in its Indonesian portfolio. It reported gross rental for the third quarter grew 1.6 per cent in local currency, to Rp266.1 million due to an 11.6 per cent rental revision.. But the trust was harmed by the declining value of Indonesia’s currency – when translated t…