The Indonesian government has passed new amendments regarding taxes on income received from real estate, and the change will affect REITs that are significantly exposed to the country.

One REIT that has warned that it may see material impact due to this change is Lippo Malls Indonesia Retail Trust, which has a portfolio of 30 properties across the archipelago.

The REIT’s properties, which are located mostly across Java and Sumatra with over 900,000 square metres of net lettable area, serve over 150 million shoppers annually.

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