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

Retail Spaces MallsIn 2007, the total number of housholds of the PTA was estimated at approximately 152,400 households.This locality is a growing residential area with an average household growth forecast of around 5% over thenext four years.Between 2007 and 2011, target market household growth in the PTA is forecast to be significant,increasing at an average annual rate of 5% per annum. By 2011, total target households is forecast toincrease to 133,700 households.Table 5.7.2 Mall WTC Matahari trade area: population growthSource: AC Nielsen; Economic Intelligence Unit; Jones Lang LaSalle Research and Consulting2007 (f) 2011 (f)%Growth2007-2011(p.a.)Primary Trade Area . . . . . . . . . . . . . . . . . . . Population* 397,694 452,699 3.3%Households* 109,754 133,658 5.0%Source: AC Nielsen; Economic Intelligence Unit; Jones Lang LaSalle Research and Consulting* Note: Total Population and Households only includes those population and households assumed to fallwithin the target market (i.e., Socio Economic Status (SES) categories A-C, described as middle andupper income households).The major competing strata title mall to Mall WTC Matahari is ITC BSD which has a similar target marketand is within walking distance of Mall WTC Matahari. ITC BSD, together with adjacent BSD Junction, anewly completed lifestyle strata mall, is much larger in size, comprising over 80,000 sq.m of NLA. BSDJunction has adopted a more lifestyle centred concept, with the ground floors allocated for café andrestaurants (F&B outlets).Other competitors in the vicinity of Mall WTC Matahari are Serpong Plaza and BSD Plaza, both leasedcentres but without high profile anchor tenants. Lippo Karawaci Supermal, a prominent leased mall inKarawaci, Serpong Town Square and Metropolis Town Square are competing malls within the subjectsite’s STA.The future competition for Mall WTC Matahari is Summarecon Mall Serpong, a leased mall, located withinSummarecon Serpong Residential Estate, Serpong, approximately 4 km north west of the centre. The firstphase will have 40,000 sq.m NLA. It will open in June 2007 and may have a department store and asupermarket or a hypermarket, which is yet to be confirmed.Future demand for high quality shopping centres is likely to be driven by high population growth andincome growth as indicated by more middle-upper to upper income segment housing being built in thesurrounding residential estates including Bumi Serpong Damai, Alam Sutra, Villa Melati Mas, RoyalSerpong Village, Summarecon Serpong and Paramount Lake.F-126