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PT Lippo Karawaci to list real estate investment fund in Indonesia


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PT Lippo Karawaci to list real estate investment fund in Indonesia

applied toestablish an Indonesian real estate investment fund that will own a portfolioof four office properties and a distribution facility, The (Singapore) Business Times reported.

LippoKarawaci Executive Director Mark Wong said in an interview that DIRE BowspritCommercial and Infrastructure's portfolio will comprise Menara Matahari, MenaraAsia, Lippo Kuningan, Berita Satu Plaza and a warehouse in Balaraja, Java.

The2.2 trillion-Indonesian-rupiah fund could provide an estimated 9% distributionyield, according to the Sept. 26 report.

ToddLauchlan, JLLIndonesia international director and country head, said that a real estateinvestment fund is quite similar to REITs, except the former is a mutual fundcreated with a collectiveinvestment contract.

InOctober 2015, Lippo Karawaci's parent disclosed its intention to the listing ofLippo Malls Indonesia RetailTrust and First RealEstate Investment Trust to Indonesia from Singapore, due to new taxbreaks in Jakarta for REITs.

As of Sept. 23, US$1 wasequivalent to 13,071.50 Indonesian rupiah.