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Plaza MadiunJalan Pahlawan, Madiun, East JavaBrief description . . . . . . . . . . . . . . . .Plaza Madiun comprises retail spaces on the basement, firstfloor, second floor and third floor. Plaza Madiun is currentlyoccupied by Matahari Department Store and Foodmartsupermarket.Plaza Madiun is located along Pahlawan Street, a major road ofthe city. The mall is the biggest in Madiun.Locality information . . . . . . . . . . . . . .The city of Madiun, with a total population of 0.2 million (basedon a 2005 census), is the capital city of Madiun regency in theEast Java province. The Madiun regency has a total land area of1,011 sq km and its population exceeds 0.6 million (based on a2001 census).Madiun has benefited from its position which connects majorcities in Central and East Java. It is the home of Indonesia’s firstand largest train manufacturer and is a major sugar producer inJava.The industrial sector and trade, hotel and restaurant businessesare key revenue generators for the city, having contributedaround 27.0% and 20.0%, respectively, to Madiun’s GRDP(based on economic statistics in 2004).Plaza Madiun is located along Jalan Pahlawan, a major road ofthe city which is also the primary thoroughfare in the city ofMadiun. The street is positioned in the centre of the commercialand administrative zone, at the crossroad of three existingsubdistricts of Madiun. Most of the prominent buildings inMadiun are included in this precinct, including the City Hall,Merdeka Hotel, Tentara Hospital and Pasaraya ShoppingCentre. Jalan Pahlawan is accessible from Jalan Sudirman,another major thoroughfare in the city.Plaza Madiun enjoys high pedestrian traffic from JalanPahlawan and is in close proximity to various forms of publictransportation options.Title . . . . . . . . . . . . . . . . . . . . . . . . . .Plaza Madiun was built on a plot of land covering an area of:(i)5,501 sq m with HGB Certificate No. 186/KelurahanPangongangan dated 3 June 1997, registered under thename of Matahari and will expire on 10 February 2012; andYear of building completion . . . . . . . . 2000Appraised value by Knight Frank as at30 June 2007 . . . . . . . . . . . . . . . . . . S$33.4 million(ii) 82 sq m with HGB Certificate No. 188/KelurahanPangongangan dated 12 February 1998, registeredunder the name of Matahari and will expire on10 February 2012.Both HGB titles are extendable for another 20 years. Followingthe expiration of this additional term, a renewal application maybe made. (See “Overview of Relevant Laws and Regulations inIndonesia—Rights to Own and/or to Use—Hak Guna Bangunan(HGB/Right to Build)”.)(See “Business and Properties—Plaza Madiun”.)42