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

Leased MallsTable 4.7.5: Main competition, Ekalokasari PlazaCentre nameDistancefrom EPTypeNLA(sq.m)YearopenedAnchor tenantsBotani Square . . . . . . . . . . . . 2.5 km Lease 30,000 2006 Giant, Rimo, Electronic City,GramediaPangrango Plaza . . . . . . . . . . 3 km Strata 30,000 2005 Sarinah, Hero,Gunung Agung BookstoreBogor Trade Mall . . . . . . . . . . 3.5 km Strata 45,000 2006 RamayanaPlaza Jambu Dua . . . . . . . . . 7 km Lease 20,800 1997 RamayanaPlaza Indah Bogor . . . . . . . . . 8 km Lease 18,000 1999 YogyaPlaza Bogor . . . . . . . . . . . . . . 3 km Lease 27,500 1993 RobinsonBellanova Country Mall . . . . . 7 km Strata 21,000 2006 HypermartSource: Jones Lang LaSalle Research and Consulting4.7.7 SWOT analysisTable 4.7.6 provides a summary of the strengths, weaknesses, opportunities and threats for EP.Table 4.7.6 SWOT analysis, Ekalokasari PlazaStrengthsThe supermarket (Matahari Marketplace) isunique and helps the centre serve its core middleto middle-upper income trade areaThe centre is considered the dominant shoppingmall in Bogor, with the most complete range ofconvenience and comparison shoppingThe factory outlet retailers located nearby areconsidered to complement the retail offeringTenancy mix, particularly fashion retail, isconsidered to be strong and the best in BogorOpportunitiesWeaknessesThere are insufficient parking space on weekendsand this may become a greater issue once centrerenovations and extensions are completedAn existing lack of food options is perceived bysome customers as a weaknessThreatsA major refurbishment and expansion of the F&B,lifestyle, cinema and gym precinct shouldcomplete the retail offering and increase itscustomer baseThe level 3 and Mezzanine extension should pullshoppers up through the mall, thereby improvingtrade on level 2The completion of the extensions prior to BotaniSquare becoming well established provides a‘first mover advantage’ over this new marketentrantRepositioning provides opportunity to improvetenancy zoning and mix, although customersconsider the tenancy mix to be already quite goodCentre management has considered movingforward lease lines at ground floor, reducingexcessive common mall areas and increasing NLASource: Jones Lang LaSalle Research and ConsultingBotani Square is a potential threat to EP, howeverit has yet to establish its market. Once the thirdlevel is completed (in 2008) it may providegreater competitionOther future competition may target the growingmiddle to middle-upper marketF-105