In response to growing market demand, Lippo Karawaci started developing strata-titled malls from 2002 to 2006, recognizing that entrepreneurs in Indonesia were moving away from traditional retail outlets. Then, observing the over supply of strata-titled malls that had previously been in demand, the Company made the move to community malls and shifted to a model which now involves building, leasing, and then monetizing the retail assets.
PT. Lippo Malls Indonesia ‘s retail comprises strata-titled malls and leased malls strategically located in major cities of Indonesia. The retail malls provide one-stop shopping, entertainment, dining and leisure destinations, with anchor tenants such as leading domestic retailers Matahari Department Store, Hypermart, Timezone, Times Bookstore and Cinema XXI.
PT. Lippo Malls Indonesia continues to strengthen its position as the largest mall owner and/or operator in Indonesia by building and managing more retail malls across the country.