Binjai Supermall (Photo: Lippo Malls Indonesia Retail Trust)

Lippo Malls Indonesia Retail Trust (LMIRT) is facing the twin spectre of softer operating conditions, and a steep depreciation of the Indonesian currency.

This is especially so after the REIT announced closure of all malls, which will take effect from 1 April.

The REIT has earlier announced the closure of properties within the Greater Jakarta area.

Related: Lippo Malls REIT shut properties as COVID-19 spreads across Indonesia

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.