MANAGER’S REPORT
Portfolio Review
RETAIL SPACES
The seven Retail Spaces have a total NLA of 94,070 sqm, and are predominantly
utilized as department stores, supermarkets and/or amusement centres and
are housed within other retail malls. Three of the Retail Spaces are located in
Greater Jakarta and the remaining four in the cities of Semarang, Madiun, Malang
and Medan.
The Retail Spaces are master-leased to PT. Matahari Putra Prima Tbk (Indonesia’s
largest retailer by market share) and PT Multipolar Tbk for an initial term of 10
years with fixed rental growth of 8.0% per annumuntil 2011 and a base plus share
of percentage of revenue growth thereafter.
Depok Town Square
Jalan Margonda Raya, Depok,
West Java
Net Lettable Area:
13,045 sqm
Appraised Value 2015:
S$21.4m
Current Utilisation:
Hypermart, Matahari Department
Store and Timezone
Java Supermall
Jalan MT Haryono, Semarang, Central Java
Net Lettable Area:
11,082 sqm
Appraised Value 2015:
S$20.0m
Current Utilisation:
Matahari Department Store and
Foodmart Supermarket
Grand Palladium
Jalan Kapt. Maulana Lubis, Medan,
North Sumatera
Net Lettable Area:
13,417 sqm
Appraised Value 2015:
S$17.9m
Current Utilisation:
Department Store, Hypermart,
Entertainment and Game Centre
Malang Town Square
Jalan Veteran, Malang, East Java
Net Lettable Area:
11,065 sqm
Appraised Value 2015:
S$22.0m
Current Utilisation:
Hypermart, Matahari Department
Store and Timezone
ANNUAL REPORT 2015
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