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

Retail Spaces MallsStrata title shop units in the Depok Town Square are dominated by non-branded fashion retailers,particularly those targeting the youth segment.The centre targets the middle income segment, particularly young families from residents of middleincome segment residential estates in Depok, and the student community around Depok.At present, the centre has an occupancy rate of around 70% based on all tenant types. The vacancies aremainly on the upper floors.Matahari Department StoreThe Matahari Department Store in Depok Town Square is the larger of two Matahari stores in Depok, at6,989 sq.m. The store includes primarily fashion, accessories and cosmetics departments with a smallsection on homewares.Both Matahari stores in Depok target the relatively large middle income segment. Other department storesin Depok include Centro in Margo City, which targets the middle-upper income segment, and RamayanaDepartment Store in Plaza Depok, which targets the middle-lower income segment.HypermartHypermart is one of three hypermarkets competing in the grocery and variety trade in Depok, the other twobeing Giant at Margo City and Carrefour in ITC Depok. The store targets the middle to middle-lower incomesegment.5.5.3 Trade area analysisBased on discussions with the store manager of Matahari and Hypermart, the PTA for Depok Town Squarecovers approximately the whole of Depok.In 2007, the estimated residential population of the PTA is approximately 1.2 million. Recent populationgrowth has averaged 3.3% per annum. It is expected that similar population growth will be achieved overthe next five years.The location of Depok Town Square, together with the locations of major competing centres, are illustratedin the map below.Figure 5.5.2: Depok Town Square trade area map1. Margo City2. ITC Depok3. Mal Depok4. Plaza Depok5. Cibubur Junction152 3 4Source: Jones Lang LaSalle Research and Consulting & Jakarta Street Atlas (Gunther W. Holtorf)F-119