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

Leased Mallsprimarily the city of Bogor (Bogor Timur, Bogor Selatan, Bogor Barat, Bogor Utara, Bogor Tengah) andTanah Sereal.The secondary catchment includes areas where EP attracts visitors from, however the level of customerdraw (market share penetration) is below the level achieved in the PTA. Areas considered to fall within theSTA include Pancoran Mas, Serang Baru and Gunung Putri.The trade area, including major competing centres within the trade area, is illustrated in the below map.Figure 4.7.3: Ekalokasari Plaza trade area1. Plaza Jambu Dua2. Plaza Bogor3. Merdeka Bogor4. Bogor Trade Mall5. Bellanova Country Mall6. Botani Square7. Pangrango Plaza8. Plaza Indah Bogor85342176EkalokasariPlazaN5KmSource: Jones Lang LaSalle Research and Consulting & Jakarta Street Atlas (Gunther W. Holtorf)As at 2005, the PTA shown on the above map included a population of 808,000 persons while the STAincluded a further 334,000 persons. Based on recent population trends in the area, the primary andsecondary trade areas are forecast to grow by 3.0% and 3.4% per annum respectively between 2007 and2011, increasing to an indicative forecast population of 967,000 (PTA) and 408,000 (STA).The target market for EP are middle-upper income households, which represent 74% of all households inthe PTA and 72% of households in the STA.Trade area retail spending and forecast retail spending growth is summarised in Table 4.7.4 below.Together with strong population growth, total retail spending in the PTA is expected to grow by 6.2% perannum between 2007 and 2011 while total retail spending is forecast to grow by 6.9% per annum.There is also potential for the proportion of middle-upper income households to increase significantlywithin the trade area as new residential estates within commuting distance of Jakarta are developed. Thisshould increase EP’s target market.F-103