LIPPO-MAPLETREE - Lippo Malls Indonesia Retail Trust - Investor ...

Business and propertiesGAJAH MADA PLAZAJaIan Gajah Mada 19-26, Central JakartaJakarta profileThe province of Jakarta is the capital of Indonesia. It consists of five municipalities—North Jakarta, EastJakarta, South Jakarta, West Jakarta and Central Jakarta.As the administrative centre of Indonesia, Jakarta’s economy is based on finance and commerce andattracts a particularly high level of foreign investment compared to other parts of Indonesia. Income percapita is also high driven partly by a high number of expatriates living in the city, as well as the types ofemployment available in the area.According to a 2005 Census, the population of Greater Jakarta was 7.5 million. Despite rapid urbanisationover the past 40 years (with population at only 1.2 million in 1960), and solid growth for Indonesia as awhole, population in Greater Jakarta has been declining over the past five years. This is a result of adecline in the population of Central Jakarta, driven by the changing composition of the city from relativelyhigh levels of residential accommodation to an increasing mix of office development, convention centresand hotels. Over the next five years, the population of Central Jakarta is expected to begin increasing, andparticularly strong growth is also expected in South Jakarta.As the largest city in Indonesia, Jakarta has the highest GRDP (current prices) per capita with averagegrowth rate of about 14% per annum over the past four years. Total household expenditure in Jakarta grewat an average rate of 12.8% for the period from 2001 to 2006, from Rp. 19,277 billion in 2001 toRp. 35,273 billion in 2006.Apart from increases in income driving retail spending growth, spending has also been boosted by alifestyle shift towards a higher level of consumerism.DescriptionGajah Mada Plaza is a seven storey with one basement level shopping centre and a carpark comprising885 parking lots. The mall is located prominently in the heart of Jakarta’s Chinatown, an established and132