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

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Business and properties• Paris Van Java, located four km northwest of Bandung Indah Plaza, with a NLA of 38,000 sq m, isanchored by Sogo Department Store, Carrefour hypermarket and Blitz Megaplex Cinemas. The mallcommenced its operations in 2006, and is still in process of leasing its retail space. It’s retail offering andcompetitive position may improve once all of its tenancies are occupied and completed.• Istana Plaza, which is located two km from Bandung Indah Plaza, and is one of the <strong>Retail</strong> <strong>Malls</strong> in LMIR<strong>Trust</strong>’s initial property portfolio.• Cihampelas Walk, located two km away from Bandung Indah Plaza, with a NLA of 28,400 sq m, isanchored by Yogya Supermarket and department store.• Riau Junction, located less than one km away from Bandung Indah Plaza, with a NLA of 6,400 sq m, isanchored by Yogya Supermarket and department store with a number of food retailers on its third level.With its relative small size and limited offering, the mall mainly offers daily necessity shopping toshoppers.Future: “Appendix F—Independent Report on the <strong>Indonesia</strong>n <strong>Retail</strong> Property Market” indicates that, atpresent, there are no known proposals for new centres to compete directly with Bandung Indah Plaza.However, given the relative strength of retail supply in recent years, particularly in Greater Jakarta, it ispossible that future centres will be developed in Bandung.(See “Appendix F—Independent Report on the <strong>Indonesia</strong>n <strong>Retail</strong> Property Market”.)Other informationThe following table sets out other relevant information relating to Bandung Indah Plaza.Year of building completion . . . . . . . . 1990Land Area . . . . . . . . . . . . . . . . . . . . .15,779 sq mGFA as at 30 June 2007 . . . . . . . . . . 55,196 sq mNLA as at 30 June 2007 . . . . . . . . . . 26,472 sq m (1)Occupancy rate as at 30 June 2007. . 83.2%Appraised value by Knight Frank as at30 June 2007 . . . . . . . . . . . . . . . . . . S$124.5 millionAppraised value by Colliers as at30 June 2007 . . . . . . . . . . . . . . . . . . S$135.1 millionCar parking lots . . . . . . . . . . . . . . . . . 602Motorcycle parking lots . . . . . . . . . . . 700Population catchment . . . . . . . . . . . . 124,947 households (2)Title . . . . . . . . . . . . . . . . . . . . . . . . . .Bandung Indah Plaza is owned by PT Megah Semesta Abadiand was built pursuant to a BOT Scheme based on thecooperation agreement on the renovation development andmanagement of Hotel Pakunegara, Bandung (PerjanjianKerjasama Pemugaran Pembangunandan Pengelolaan HotelPakunegara) between Perusahaan Daerah Jasa DanKepariwisataan Propinsi Jawa Barat, and formerly known asPerusahaan Daerah Kerta Wisata Jawa Barat andPT Bhuwanatala Inda Permai Tbk (formerly known asPT Bandung Indah Plaza Permai) (“Bandung Indah PlazaCooperation Agreement”) and was novated by a novationagreement to PT Megah Semesta Abadi from PT BhuwanatalaIndah Permai Tbk. on 29 December 2003.The Bandung Indah Plaza Cooperation Agreement has beenamended several times, among others with (i) Restatement and162

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