Amid a SGD98 million (USD 73 million) acquisition of two shopping centres in Indonesia, concerns are mounting over Lippo Malls Indonesia Retail Trust and its financial metrics.
Prior to December 2017, the Singapore-listed REIT currently had a portfolio of 28 retail properties across Indonesia with over 851,000 square metres of net lettable area, and serving approximately 179 million shoppers annually.
On 22 December, the REIT completed the joint acquisition of another property in Yogyakarta, and the acquisition of Kediri Town Square.
The REIT now has an enlarged portfolio comprising of 23 retail malls, and seven major retail spaces located within other malls in Indonesia.
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