On Wednesday, Lippo Group broke ground with a
mixed-use shopping mall in Kupang, East Nusa Tenggara, in its latest endeavour
to develop beyond Java.
The director revealed Lippo Mall Kupang will be
built across four hectares, costing approximately Rp600billion ($51million).
The 40,000 square metre shopping mall will quarter
Matahari Department Store, Hypermart, as well as the Lippo Group’s movie
theater chain, Cinemaxx.
The Kupang mall is amongst the Lippo Group’s major
plan to tap into the property market of East Nusa Tenggara.
The group is currently also building a branch of
its private hospital chain - Siloam Hospitals – nearby the Lippo Mall Kupang, expected
to open in October. It will cover an area of approximately two hectares with
320 rooms alongside 250 catering for patients.
Furthermore, the Jakarta based group will also
construct a Lippo Group office, upon an area of approximately two hectares, on
the site.
Last year, Lippo inducted the Kupang branch of its
hypermarket chain, Hypermart, through Matahari Putra Prima — its lifestyle
retail unit.
Beyond Kupang, the property conglomerate is also
presently undertaking several projects within areas outside Java - Including Makassar,
Padang, South Sulawesi and West Sumatra.
