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

Business and propertiesMAL LIPPO CIKARANGJalan MH Thamrin, Lippo Cikarang, Greater JakartaJakarta profile(See “—Gajah Mada Plaza—Jakarta Profile”.)DescriptionMal Lippo Cikarang is a two-level retail mall located within the Lippo Cikarang estate. The estate isapproximately 40 km east of Jakarta and is connected to Jakarta via the Jakarta-Cilkampek toll road.Comprising industrial, commercial and residential components, the Lippo Cikarang estate is home to25,000 residents and approximately 65,000 jobs. Mal Lippo Cikarang is the main shopping centre in theestate and has limited competition within an approximately 10-km radius. The mall is anchored byMatahari Department Store, Hypermart and Hero Supermarket, complemented by a cinema, a bookshop,a video game centre, restaurants and dining outlets. The mall has recently completed a S$4.7 millionexpansion and renovation program which has increased its NLA by more than 50%.Tenant profileAs at 30 June 2007, Mal Lippo Cikarang has 116 retail tenants based on Committed Leases. The mall isanchored by Matahari Department Store, Hypermart, Hero Supermarket and Studio 21 Cinema whichcollectively occupy approximately 55.0% of the mall’s NLA, and is well complemented by a diverse set ofspecialty tenants from a wide variety of industries. The prominent specialty tenants include Nokia,Timezone, Toko Buku Utama bookstore, Kentucky Fried Chicken, Wendy’s Restaurant, Pizza Hut, TheExecutive, Dunkin Donuts and Johnny Andrean Salon.The mall has achieved an occupancy rate of 96.3% as at 30 June 2007.With the completion of the extension for Hypermart, the three anchor tenants, Matahari Marketplacesupermarket and Matahari Department Store, Hero Supermarket and Hypermart will account for over66% of the NLA of Mal Lippo Cikarang, which will provide stable and long-term rental income and attract149