LMIR Trust reopens additional malls as Indonesia eases some Covid precautions

Lippo Mall Puri, part of the St Moritz Jakarta Integrated Development located in West Jakarta. Lippo Malls Indonesia Retail Trust, or LMIR Trust, agreed to aquire the mall in March 2019. Credit: LMIR TrustLippo Mall Puri, part of the St Moritz Jakarta Integrated Development located in West Jakarta. Lippo Malls Indonesia Retail Trust, or LMIR Trust, agreed to aquire the mall in March 2019. Credit: LMIR Trust

Lippo Malls Indonesia Retail Trust has reopened another seven retail malls and two retail spaces, bringing to a total of 19 retail malls and four retail spaces now allowed to reopen amid easing pandemic-related restrictions in Indonesia, the trust said in a filing to SGX Wednesday.

Earlier this week, Indonesian President Joko Widodo said the country would start easing some Covid-related restrictions in some areas, including the capital Jakarta, as case numbers have declined and vaccinations are on the rise, Reuters reported.

“Together with the earlier reopened malls and retail spaces, a total of the trust’s 19 retail malls and four retail spaces are now allowed to reopen but subject to certain precautionary measures,” LMIR Trust said. The trust has 29 properties across Sumatra, Java, Bali and Sulawesi, according to its website.

The reopened malls are required to keep capacity to 50 percent, get proof of first-dose vaccination, keep 25 percent dine-in capacity for food and beverage outlets, with two people per table and a 30-minute dining time, the filing said. Some malls are subject to visitor age restrictions prohibiting children under 12 from visiting, while Lippo Plaza Jogja prohibits those over age 70, the filing said.

LMIR Trust said the seven malls to reopen were Plaza Medan Fair, Palembang Icon, Palembang Square, Palembang Square Extension, Lippo Plaza Ekalokasari Bogor, Lippo Plaza Jogja and Sun Plaza, while the two retail spaces are Metropolis Town Square and Java Supermall.

Three retail malls and three retail spaces are still under restrictions allowing only essential services, such as supermarkets, pharmacies, banks and clinics, and only 50 percent capacity, as well as restaurants and cafes being limited to delivery and takeaway services, LMIR Trust said.

“When the Covid-19 situation improves in those areas, the manager expects mall operations to resume gradually under similar precautionary measures,” the filing said.

“The manager, along with the property manager, are working closely together on proactive retailer engagements with occupancy rate and future collections being the prime focus, as well as rolling out extensive marketing campaigns together with the retailers to drive recovery
within the malls,” the trust said.