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

Executive summaryThe seven leased malls and seven retail spaces are located across six provinces, five of which are in Java(Jakarta, West Java, East Java, Central Java, Banten) and one in North Sumatra.The leased malls are fully contained within LMIR Trust while the retail spaces (most of which are strataproperties) constitute only part of the total mall (generally as the anchor tenants).Three of the leased malls are within Jakarta, which has the highest level of gross regional domestic product(GRDP) per capita of all provinces in Indonesia, reflecting its role as the administrative and financial capitalof Indonesia.Two leased malls and three retail spaces are in Greater Jakarta. This region has experienced the strongestper capita growth in household expenditure of all major urban areas between 2001 and 2005. Theremaining two leased malls and four retail spaces are located outside Greater Jakarta.Total net lettable area of the properties within the portfolio as at 30 June 2007 is as follows:Seven leased malls: 219,382 square metres (sq.m)(241,932 sq.m following extension)Seven retail spaces: 94,070 sq.mOver the next five years, shopping centres are expected to experience increased competition, as newcentres commence operations and existing centres are re-positioned. On balance, however, the subjectmalls are well located, with sound tenancy mixes and strategies in place to maintain and potentiallyincrease market share.F-8