Opened in 2013, Lippo Mall Kuta is a three-floor mall that offers 21,132 square meters to international and local tenants, such as Nike, Bata, Quicksilver, Planet Sports, Amazing Kuta, Matahari Department Store and Cinemaxx.
Lippo Karawaci president director Ketut Budi Wijaya said the acquisition is part of “light assets program,” by which the property developer expects to increase its revenue and reduce operating cost.
LMIRT has been listed on Singapore Stock Exchange since 2007. Its diversified portfolio of income-producing real estate in Indonesia includes 19 retail malls and seven retail spaces.
The company had $760 million in market capitalization as of November.