Mall developer endures testing times
COMPANY Lippo Karawaci Tbk PT
BRAND VALUE US $265 million
YEAR ON YEAR CHANGE -17%
INDUSTRY Real Estate
YEAR FORMED 1990
Lippo Karawaci is one of the largest property companies in Indonesia and is behind some of the country’s best-known developments. It launched three new malls in 2016, along with two hospitals and a new hotel, the Hotel Aryaduta Bandung. Its projects tend to target higher income earners, and are priced at a premium to more mass-market developments. Communications usually center on television commercials for newly released developments, supported by displays in Lippo shopping malls. CSR efforts focus on promoting public health, and in the past year have included providing free polio vaccination for children, free glasses for students, free health checks, blood-donation activities.
Profits in the past two years have been volatile, leading to one of the company’s directors standing down in 2016. The company is part of Lippo Group, which operates Indonesia’s largest private hospital group, Siloam Hospitals, and is also a strong player across a range of other industries, including hospitality, media, finance, education and retail. Lippo Karawaci has been listed on the Indonesia Stock Exchange since 1996, and the Lippo Group has properties in China and Singapore.