As one of the most experienced and successful developers in Indonesia, Lippo Karawaci also has the expertise in developing and managing various property-related businesses. These unique strengths has made it possible for the Company to pursue exciting new business opportunities in property and portfolio management. Establishing the first Healthcare REIT (Real Estate Investment Trust) in Asia and being the sponsor for the LMIR Trust – the first Indonesian mall and retail property trust listed in Singapore.
On 11 December 2006, Lippo Karawaci became the first company in South East Asia to list a Healthcare REIT on the Singapore Stock Exchange with Indonesian assets. Assets in the First REIT include the Siloam Hospitals Lippo Village, Siloam Hospitals Kebon Jeruk, Siloam Hospitals Surabaya, Siloam Hospitals Cikarang, Mochtar Riady Comperhensive Cancer Center, Siloam Hospitals Manado & Aryaduta Hotel Manado, Siloam Hospitals Makassar, Siloam Hospitals TB Simatupang, Siloam Hospitals Bali and Imperial Aryaduta & Country Club in Lippo Village, three Singapore based properties and a hospital in South Korea.
In 2007, Lippo Karawaci successfully established LMIR Trust Management Ltd. to manage LMIR Trust. LMIR Trust, which is listed on the Singapore Stock Exchange on 19 November 2007, is the first REIT in Singapore to provide exposure to Indonesia’s growing retail sector with an asset portfolio comprise of sixteen high quality retail malls and seven retail spaces located within other retail malls, which are all strategically located in Greater Jakarta, Bandung, Medan, Palembang and Binjai. LMIR Trust has right of first refusal on leased malls developed and built by Lippo Karawaci.
Lippo Karawaci continues to strengthen its position as the largest mall operator in Indonesia, as well as a key hotel operator. From management of the REITs, retail and hotel properties, Lippo Karawaci derives fee-based income. The Company believes that future growth in management of these types of assets will further enhance profitability.