SINGAPORE (Yosefardi) – LMIRT Management Ltd, as Manager of Lippo Malls Indonesia Retail Trust (LMIR Trust), extends the “Right to Build” title (Hak Guna Bangunan or HGB) for the retail mall known as Binjai Supermall, for another twenty (20) years to 2nd September 2036.
The supermall is located in North Sumatera (situated at Jalan Soekamo, Hatta No. 14, Binjai, North Sumatera) covering a gross floor area of 26,805 sq m.
Binjai Supermall is considered as the first and currently the only modern retail mall in Binjai City, North Sumatera, Indonesia.
Alvin Cheng, CEO of LMIRT Management Ltd., said “at the time of completion of the acquisition of Binjai Supermall in December 2012, the extension was still on process. With the extension of the land title, and the upcoming completion of the asset enhancement to the mall, we will be looking forward to increasing value add from Binjai Supermall in the years to come”.