About LMIR Trust
Lippo Malls Indonesia Retail Trust (“LMIR Trust”) is the first
and only Indonesian retail estate investment trust (“REIT”)
WHICH WAS LISTED ON THE 3'8 34 ON .OVEMBER
)T AIMS TO PROVIDE EXPOSURE TO )NDONESIA S GROWING RETAIL
property sector. It is established with the principal objective
of owning and investing, on a long term basis, in a diversified
PORTFOLIO OF INCOME PRODUCING REAL ESTATE IN )NDONESIA THAT
ARE PRIMARILY USED FOR RETAIL AND OR RETAIL RELATED PURPOSES
The Trust Manager‘s focus is to maintain good occupancy
and balanced property and tenant diversification across the
portfolio, through proactive asset management of the retail
mall and spaces.
As at 31 December 2014, LMIR Trust’s portfolio comprises
seventeen (17) high quality retail malls (collectively, the
“Retail Malls”) and seven (7) major retail spaces located
within other malls in Indonesia (collectively, the “Retail
Spaces”). All of these properties are located in Indonesia
with a combined net lettable area (“NLA”) of 781,622 sqm
AND HAS A VALUATION OF APPROXIMATELY 3'$ BILLION
3TRATEGICALLY LOCATED WITHIN THE LARGE URBAN MIDDLE CLASS
population catchment areas in Greater Jakarta, Bandung,
Medan, Palembang and Binjai, LMIR Trust’s portfolio
properties are everyday malls favoured by middle class to
UPPER MIDDLE INCOME DOMESTIC CONSUMERS IN )NDONESIA
Tenants at the Retail Malls and Retail Spaces include well
known retailers, such as Matahari Department Store,
Carrefour, Hypermart, H&M, Debenhams, Giant Hypermarket
and Sogo. The anchor tenants are complemented by
popular consumer brands such as Bread Talk, McDonald’s,
Starbucks, Ace Hardware, Fitness First, Timezone, M&S,
Adidas and Giordano.
Occupancy for the portfolio remains higher than the
industry average, with an occupancy rate of 94.7% as at
31 December 2014. The portfolio is very defensively placed
WITH STAGGERED LEASE EXPIRIES TO ENSURE A STEADY EARNINGS
base.
Going forward, LMIR Trust will look towards focusing on
organic growth through proactive asset management
to maintain its strong occupancy, as well as strategic
acquisitions whenever it is appropriate.
04
LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2014
)NCLUDING INTANGIBLE ASSET ARISING FROM ACQUISITION OF ,IPPO -ALL +EMANG
