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

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Business and propertiesGRAND PALLADIUM MEDAN UNITSJalan Kapt. Maulana Lubis, Medan, North SumatraDescriptionMedan, the provincial capital of the North Sumatra, is the largest city in Sumatra and the third mostpopulous city in Indonesia after Jakarta and Surabaya. It is a cosmopolitan city with a population of over2.0 million.Medan is a growing commercial centre in the region, mainly with agriculture and industry businesses. Thecity was transformed from a tobacco plantation village in the 19th century to a major government andcommercial centre at present.In terms of economic activity, Medan relies on its natural resources as well as processing industries. Overthe years, Medan has been a supplier of vegetable oil, seafood, crafts and various agricultural products toa number of Asian and European countries.Grand Palladium Medan is conveniently located within the Medan CBD and is only 2.5 km from the PoloniaInternational Airport. The mall is located in the centre of Medan, hence drawing shoppers from all aroundthe city. It is surrounded by government and business offices and the town hall, and therefore benefits fromregular crowds of government and business visitors. The mall will potentially witness greater visitor trafficfrom the proposed office and hotel developments in the vicinity.The Grand Palladium Medan Units comprise four strata units in part of the basement, lower ground floor,upper ground floor, first floor and third floor of the building, aggregating a total NLA of 13,417 sq m,representing 45.8% of the total NLA of Grand Palladium Medan. The Grand Palladium Medan Units arecurrently utilised as a department store, hypermarket and entertainment and games centre.182
Business and propertiesRelevant information relating to the Grand Palladium Medan UnitsThe following table sets out other relevant information relating to the Grand Palladium Medan Units.NLA in respect of the Retail Space asat 30 June 2007 . . . . . . . . . . . . . . . .13,417 sq mNLA as a percentage of the NLA ofGrand Palladium Medan as at 30 June2007 . . . . . . . . . . . . . . . . . . . . . . . . . 45.8%Percentage of contribution to LMIRTrust’s Gross Rent for Forecast Period2007 . . . . . . . . . . . . . . . . . . . . . . . . . 2.6%Appraised value by Knight Frank as at30 June 2007 . . . . . . . . . . . . . . . . . . S$26.2 millionAppraised value by Colliers as at30 June 2007 . . . . . . . . . . . . . . . . . . S$25.2 millionNPI contribution from the Retail Spacefor Forecast Period 2007, ProjectionYear 2008 and Projection Year 2009(S$’000) . . . . . . . . . . . . . . . . . . . . . . Forecast Period 2007—886Projection Year 2008—1,829Title . . . . . . . . . . . . . . . . . . . . . . . . . .Projection Year 2009—1,859Relevant information relating to Grand Palladium MedanThe Grand Palladium Medan Units are constructed on HGB titlesand are currently exclusively controlled by Matahari pursuant toKiosks Sale and Purchase Binding Agreement No. 011/UPI-PPJB/IX/04, dated 14 September 2004 between Matahari andPT Unitech Prima Indah.This Kiosks Sale and Purchase Binding Agreement is evidenceof the parties’ intention to effect the sale and purchase of strataunits, but does not have the effect of transferring ownership. Thestrata titles are in the process of being issued by the local landoffice. Upon issuance, the strata titles will be purchased by therelevant Retail Space Indonesian SPC. (See “Business andProperties—Grand Palladium Medan Units”.) This is acommon practice in Indonesia. (See “Risk Factors—RisksRelating to Investment in Real Estate—LMIR Trust isdependent on the quality of the titles to the Properties”.)The following table sets out other relevant information relating to Grand Palladium Medan.Year of building completion . . . . . . . . 2005Land Area . . . . . . . . . . . . . . . . . . . . .NLA .........................CarparkLots................... 1,200Motorcycle Parking Lots . . . . . . . . . . 700ACQUISITION PIPELINE10,640 sq m29,272sqmThe Sponsor has granted LMIR Trust, for so long as (a) Lippo-Mapletree Indonesia RetailTrust Management Ltd. remains the manager of LMIR Trust and (b) the Sponsor and/or any of its183
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LIPPO-MAPLETREEINDONESIA RETAIL TRU
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Metropolis Town SquareMall WTC Mata
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KeyInvestmentHighlightsStrong acqui
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Locked-in master leases with rental
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1. Mall WTC Matahari UnitsRetail Sp
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Notice to investorsNo person is aut
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Forward-looking statementsCertain s
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Market and industry informationThis
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SummaryThe following summary is qua
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a right of first refusal (the “RO
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• The management of all the Retai
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information was extracted are based
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2006. It is estimated that the urba
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Further, the Retail Malls are manag
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Key Information on the PropertiesA
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Location of the Properties in Indon
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INFORMATION ON THE PROPERTIESThe Re
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Pictures of Gajah Mada Plaza19
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Percentage of contribution to LMIRT
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Number of tenants as at 30 June2007
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Car parking lots . . . . . . . . .
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Occupancy rate as at 30 June 2007.
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Year of building completion . . . .
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NLA as at 30 June 2007 . . . . . .
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Year of building completion . . . .
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Appraised value by Knight Frank as
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NPI for Forecast Period 2007,Projec
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Note:(1) Based on Strata Titles Own
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Note:(1) Based on Kiosks Sale and P
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Appraised value by Colliers as at30
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Percentage of contribution to LMIRT
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Notes:(1) These 14 Singapore SPCs (
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(See “Strategy—Capital and Risk
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Operating Companies: PT Multi Nusan
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Payable by LMIR Trust(c) Any other
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The offeringLMIR Trust . . . . . .
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Lock-ups . . . . . . . . . . . . .
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Listing and Trading . . . . . . . .
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Singapore are made in accordance wi
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Forecast Period2007Projection Year2
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Risk factorsProspective investors s
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Risk factorssimilar tenancy terms.
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Risk factors• losses arising from
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Risk factorsacquisitions is limited
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Risk factorsafter the proposed plan
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Risk factorsIf the tenure of the un
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Risk factorsThe Properties may be s
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Risk factorsRenovation work or phys
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Risk factorsSuch compulsory acquisi
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Risk factorsthereby materially and
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Risk factorsinterpretation by the I
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Risk factors• broad market fluctu
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Ownership of UnitsPRINCIPAL UNITHOL
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DistributionsThe distributable inco
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Exchange rates and exchange control
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CapitalisationThe following table s
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Unaudited pro forma consolidated ba
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Profit forecast and profit projecti
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StrategyDate, to the extent that LM
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StrategyGiven that there is limited
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Strategyterm funding in a more cost
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Business and propertiesIn addition,
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Business and propertiestheir daily
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Business and propertiesValuationEac
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Business and propertiesThe followin
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Business and propertiesINFORMATION
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Business and propertiesother strata
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Page 151 and 152: Business and propertiesThe largest
Page 153 and 154: Business and properties“Overview
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Page 157 and 158: Business and properties• Mal Cima
Page 159 and 160: Business and propertiesTHE PLAZA SE
Page 161 and 162: Business and propertiesThe table be
Page 163 and 164: Business and properties• Epicentr
Page 165 and 166: Business and propertiesMAL LIPPO CI
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Page 171 and 172: Business and propertiesfloor. The o
Page 173 and 174: Business and properties• Pangrang
Page 175 and 176: Business and propertiesBANDUNG INDA
Page 179 and 180: Business and propertiesAmendment to
Page 181 and 182: Business and propertiesISTANA PLAZA
Page 185 and 186: Business and propertiesThe Istana P
Page 187 and 188: Business and propertiesRelevant inf
Page 193 and 194: Business and propertiesAppraised va
Page 197: Business and propertiesRelevant inf
Page 201 and 202: Business and propertiesDescriptionP
Page 203 and 204: Business and propertiesSun PlazaMed
Page 205 and 206: The Manager and corporate governanc
Page 225 and 226: The SponsorThe business structure o
Page 227 and 228: The Sponsorshopping, entertainment
Page 229 and 230: The SponsorKEY SHAREHOLDERS OF THE
Page 231 and 232: The formation and structure of LMIR
Page 239 and 240: Certain agreements relating to LMIR
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Certain agreements relating to LMIR
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Overview of relevant laws and regul
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TaxationSINGAPORE TAX IMPLICATIONST
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Taxationbe applied to reduce the co
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TaxationOn the rental payments to t
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Plan of distributionThe Manager is
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Plan of distributionThe restriction
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Plan of distributionNote:(1) Includ
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Plan of distributionArticle 31, sec
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Plan of distributionUnited States o
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Clearance and settlementINTRODUCTIO
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General information(1) The profit f
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General information(f)(g)(h)Rule 74
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Glossary% Per centum or percentageA
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GlossaryColliersColliers Internatio
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GlossaryIndonesian SPCsInterested P
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GlossaryNPIOCBC BankNet property in
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GlossaryRetail Space Singapore SPCs
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GlossaryUnit Lending AgreementUnit
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Appendix AINDEPENDENT ACCOUNTANTS
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Appendix BINDEPENDENT ACCOUNTANTS
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Appendix BLIPPO-MAPLETREE INDONESIA
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Appendix BPro Forma Consolidated Ba
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Appendix B(D)Pro Forma Consolidated
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Appendix B(x)(xi)(xii)(xiii)(xiv)S$
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Appendix BCash and cash equivalents
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Appendix BLeased assets—Leases in
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Appendix Btemporary difference; and
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Appendix B• The Trustee, the Mana
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Appendix BDeferred income represent
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Appendix Bfinancial year exceeds th
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Appendix Bprice is to be negotiated
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Appendix B4. Bandung Indah PlazaPT
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Appendix CINDEPENDENT SINGAPORE TAX
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Appendix CGains on disposal of shar
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Appendix CDisposal of UnitsSingapor
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Appendix DINDEPENDENT INDONESIAN TA
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Appendix DD-3
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Appendix DD-5
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Appendix DD-7
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Appendix EINDEPENDENT PROPERTY VALU
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Appendix EReport No.017/WPA-Report/
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Appendix ERef. No: V/2006/PKG/3819
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Appendix EVALUATION CERTIFICATEProp
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Appendix EPropertiesLandarea (m 2 )
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Appendix EADDENDUM—STATEMENT OF A
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Appendix FINDEPENDENT REPORT ON THE
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TABLE OF CONTENTSREPORT INSTRUCTION
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Report instructionsAbout Jones Lang
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Executive summaryIMPLICATIONS FOR R
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Overview of Indonesia and its Econo
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Retail Market OverviewTable 2.1.1 I
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Retail Market Overview2.3 Changing
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Retail Market Overviewretailers hav
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Retail Market OverviewCompletionyea
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Retail Market Overview2.7.5 Carrefo
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Retail Market OverviewIn view of th
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Overview of PortfolioAs the adminis
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Overview of PortfolioFigure 3.1.4:
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Overview of PortfolioFigure 3.2.2 B
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Overview of PortfolioFigure 3.2.4 S
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Overview of PortfolioFigure 3.2.6 M
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Overview of PortfolioFigure 3.3.1 L
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Overview of PortfolioMall WTC Matah
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Leased MallsFigure 4.1.1 Cibubur Ju
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Leased MallsTable 4.1.3 Major tenan
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Leased MallsTable 4.1.4 Cibubur Jun
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Leased Malls4.1.7 SWOT analysisTabl
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Leased Malls4.2 Plaza Semanggi4.2.1
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Leased Mallsnumber of international
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Leased MallsTaking the survey and t
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Leased Malls• There are two major
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Leased Mallsterms of its very promi
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Leased MallsFigure 4.3.2 Bandung In
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Leased Malls• In terms of reasons
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Leased Mallsand approximately 38,00
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Leased MallsWhile BIP is likely to
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Leased MallsFigure 4.4.2 Istana Pla
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Leased Malls• The main reason sta
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Leased Malls• Cihampelas Walk is
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Leased MallsFigure 4.4.4: Istana Pl
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Leased MallsOn the completion of th
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Leased MallsThe target market for M
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Leased MallsThe current Hypermart e
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Leased MallsFigure 4.6.2 Gajah Mada
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Leased Malls• Of all the malls in
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Leased Mallshypermart. The centre a
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Leased MallsTable 4.6.7: Rental pos
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Leased Malls4.7.3 Tenant mixThe cur
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Leased Mallsprimarily the city of B
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Leased MallsTable 4.7.5: Main compe
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Retail Spaces Malls5. RETAIL SPACES
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Retail Spaces MallsIn addition, loc
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Retail Spaces MallsThe store target
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Retail Spaces MallsTable 5.3.1: Cen
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Retail Spaces MallsFigure 5.3.3: Gr
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Retail Spaces MallsThis relatively
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Retail Spaces MallsStrata title sho
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Retail Spaces MallsMadiun are locat
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Retail Spaces MallsFigure 5.6.3 Pla
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Retail Spaces MallsThe centre has t
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Appendix GTERMS, CONDITIONS AND PRO
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Appendix G(15) The Manager reserves
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Appendix GAdditional Terms and Cond
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Appendix G(10) By completing and de
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Appendix GAdditional Terms and Cond
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Appendix GWhere your Electronic App
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Appendix GApplication to the Manage
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Appendix GTerms and Conditions for
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Appendix HLIST OF PRESENT AND PAST
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Appendix H(6) Mr Tan Boon LeongCurr
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Appendix HCurrent DirectorshipsMapl
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Appendix HCurrent DirectorshipsMapl
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LIPPO-MAPLETREE INDONESIA RETAIL TR
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