LMIR Trust to reopen 12 of its malls as Indonesia eases some Covid restrictions

LMIR Trust's Sun Plaza, located in Medan, the capital of North Sumatra Province. Credit: LMIR Trust's websiteLMIR Trust's Sun Plaza, located in Medan, the capital of North Sumatra Province. Credit: LMIR Trust's website

Lippo Malls Indonesia Retail Trust said Wednesday 12 of its malls in Jakarta and other major cities in Java and Sulawesi would be allowed to reopen, subject to precautionary measures, as Indonesia relaxed some of the restrictions aimed at stemming the spread of the Covid-19 virus.

The malls will be required to open at 50 percent of capacity, with proof of first dose of vaccination required, and with food and beverage dine-in at a maximum of two people at a table subject to a 30-minute eating time limit, the trust said in a filing to SGX. Additionally, children under age 12 are prohibited from entering the malls, the filing said.

The rest of LMIR Trust’s malls and retail spaces remain under restrictions allowing only essential services, such as supermarkets, pharmacies, banks and clinics, to operate at 50 percent capacity limits, while restaurants and cafes can offer delivery and take-away services, with no dine-in, the filing said.

The trust and its manager are working with its retailers on rolling out extensive marketing campaigns to drive footfall at the malls, the filing said.

The malls allowed to reopen are: Lippo Mall Puri, Lippo Mall Kemang, Pluit Village, Gajah Mada Plaza, Plaza Semanggi, Tamini Square, Cibubur Junction, Lippo Plaza Kramat Jati, Bandung Indah Plaza, Istana Plaza, Mal Lippo Cikarang and Lippo Plaza Kendari, and two retail spaces, WTC Matahari and Depok Town Square.

The trust’s portfolio holds 29 properties across Sumatra, Java, Bali and Suawesi, with a portfolio valuation of S$1.79 billion, according to its website.

Indonesia’s Covid infections are decreasing, but an average of 22,685 new cases are reported each day, according to the Reuters Covid-19 tracker. The country has had around 3.9 million cases and around 121,141 deaths reported since the pandemic began, the data showed.