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

Leased MallsTaking the survey and the other factors outlined above into account, the trade area, including majorcompeting centres within the trade area, is illustrated in Figure 4.2.3.Figure 4.2.3 The Plaza Semanggi trade area1. Sarinah2. Ratu Plaza3. Plaza Indonesia4. Blok M Plaza5. Pondok Indah Mall6. Ciputra Mall7. Plaza Senayan (Phase 1&2)8. Pasar Festival9. Taman Anggrek Mall10. Mal Ambassador11. Senayan City (Forum)12. Pasaraya Blok M 3 (Pasaraya Grande)13. ITC Kuningan14. STC Senayan15. Dharmawangsa Square City Walk16. Plaza Indonesia EX17. Grand ITC Permata Hijau18. Setiabudi One d/h Plaza Setiabudi I19. Bellagio Boutique Mall20. Plaza Senayan Annex (Arcadia)21. Jakarta City Center (JaCC) Hyperstore22. Mall Pondok Indah 223. Mal Kelapa Gading 1, 2 & 3PROPOSED24. Grand Indonesia25. Citywalk Sudirman @ Cityloft26. Main Street Gandaria27. Pacific Place28. Kota Kasablanka16. Plaza Indonesia Extension29. Kemang Village30. Epicentrum Walk31. Sudirman PlaceN06172622 5916 1321242583082010283111 7 2 27 19144 121513295kmPlazaSemanggi23Source: Jones Lang LaSalle Research and Consulting & Jakarta Street Atlas (Gunther W. Holtorf)As at 2003, the PTA is estimated to have a population of 1.18 million (within around 286,000 households)while the STA had a population of 1.90 million (approximately 447,000 households).In recent years, highrise residential development has been accelerating in Central Jakarta. Developmentof condominiums and apartment complexes has added thousands of households to the PTA of The PSserves over recent years. However, the growth in apartments, which are typically domiciled by middle toupper income residents, is being offset by other residents vacating the trade area in search of moreaffordable housing and a result of the dislocation of some residents by new property developments.The PTA population is estimated to remain virtually unchanged in the four years between 2003 and 2007but the population is becoming more affluent. The PTA has declined by 0.1% per annum between 2003 and2007, decreasing to an indicative population of 1.17 million. The STA is estimated to have exhibited a largerdecline in population over the period, falling by 1.2% per annum, to approximately 1.81 million in 2007.Importantly for The PS, 95% of all households in the PTA fall within the targeted middle to upper incomegroup (defined as including households which are classified as SES A, B and C), while a similar proportionof STA residents (92%) are also within this target demographic. As a result, the number of target markethouseholds in the PTA is estimated at 270,400 households in 2007. The corresponding figure for the STAis 417,500 target market households.The population is forecast to decrease over the next four years. However, as a result of a combination ofpopulation changes and reducing household sizes, the number of target market households is expected toF-61