Lippo Malls to purchase two Indonesian centres

Jul 2, 2015Updated May 28, 20251 min read

Singapore-headquartered Lippo Malls Indonesia Retail Belief is to purchase two purchasing centres in Indonesia.

The properties are Palembang Icon and Lippo Plaza Batu, collectively value $83.33 million (or Rp1.06 trillion).

The Batu Metropolis mall is a small centre with 12,324 sqm internet lettable space however consists of the suitable to construct a further 6500 sqm of area on the rooftop. Batu Metropolis is in Malang province in East Java with a inhabitants of 190,000.

Palembang Icon is a five-storey 35,797 sqm retail mall outfitted with a sports activities centre, situated in Palembang Metropolis in South Sumatera.

LMTR says the retail malls will probably be purchased at costs lower than unbiased valuations they usually have secure tenants.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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