Property Marketing and Sales Review
Lippo Malls
QOLIPPO
PT LIPPO KARAWACI TOK
Dominant position in retail development & property management, through management of
55 malls throughout Indonesia
■ 3.5 million sqm GFA
■ As of September 30, 2021: Overall average occupancy 77.5% and 82.3% in LMIRT properties
Stricter social restriction in Jun 2021 resulted in lower footfall traffic. Temporary mall closure in Jakarta
and Bali province since Jul 2021 result in tenants experiencing about 30-50% rental discount in 3Q21.
Rental rates in 2016-2019 was supported by specialty stores.
2020 rental rates decrease significantly with change in payment
terms to % of revenue, vs. previously based on a fixed rate.
IDR '000 per sqm per month
Occupancy rates remain high at 78%-82%
Occupancy rates across malls managed by Lippo Malls Indonesia
100%
88%
88%
87%
140
124
120
100
80
60
40
20
90%
80%
120
121
78%
80%
70%
60%
68
449
50%
64
40%
30%
20%
10%
0%
2017
2018
2019
2020
9M21
2017
2018
2019
2020
9M21
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