SINGAPORE (Yosefardi) – Retailer Courts Asia Ltd has signed an MoU with Sinarmas Land to build its first two “Big-Box” outlets in Indonesia.
Under the MoU, Courts Asia will lease the two megastores at Kota Harapan Indah, Bekasi and BSD City, Serpong. The stores will be built by Sinarmas Land and leased back to Courts Asua under “Build-to-Suit” concept for a period of 28 and 30 years respectively.
At the same time, the MoU lays down the framework to extend the partnership through building additional stores in the future on the same terms, when suitable sites are identified.
“Sinarmas Land would play a strategic role in sourcing for and identifying these sites for Courts Asia’s future expansion in Indonesia,” the company said on its press statement.
Courts Asia claimed as leading retailer in Southeast Asia and has expanded its range to include electrical, IT and furniture products. The company has branches in Singapore, Malaysia and Indonesia.
By Hatman Bintang
