Lippo Investment Trust to Acquire Lippo Mall Kuta in Bali
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Opened in 2013, Lippo Mall Kuta is a three-floor mall that offers 21,132 square meters to international and local tenants, such as Nike, Bata, Quicksilver, Planet Sports, Amazing Kuta, Matahari Department Store and Cinemaxx.
Lippo Karawaci president director Ketut Budi Wijaya said the acquisition is part of “light assets program,” by which the property developer expects to increase its revenue and reduce operating cost.
LMIRT has been listed on Singapore Stock Exchange since 2007. Its diversified portfolio of income-producing real estate in Indonesia includes 19 retail malls and seven retail spaces.
The company had $760 million in market capitalization as of November.
Questions & Answers
Q.What is the primary reason for Lippo Karawaci to sell Lippo Mall Kuta?
What is the primary reason for Lippo Karawaci to sell Lippo Mall Kuta?
Lippo Karawaci's president director stated the acquisition is part of a 'light assets program'. This strategy aims to increase the property developer's revenue and reduce its operating costs.
Q.When was Lippo Mall Kuta opened and what types of tenants does it host?
When was Lippo Mall Kuta opened and what types of tenants does it host?
Lippo Mall Kuta opened in 2013 and hosts both international and local tenants. Examples include Nike, Bata, Quicksilver, Planet Sports, Amazing Kuta, Matahari Department Store and Cinemaxx.
Q.What is LMIRT's current portfolio size within Indonesia?
What is LMIRT's current portfolio size within Indonesia?
LMIRT's diversified portfolio of income-producing real estate in Indonesia includes 19 retail malls and seven additional retail spaces. It has been listed on the Singapore Stock Exchange since 2007.
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