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46 Lippo Karawaci

LIPPO

Company: Lippo Karawaci Tbk PT

Brand Value: US $229 million

Headquarters: Tangerang

Year On Year Change: -14%

Industry: Real Estate

Year Formed: 1990

Lippo is one of the largest property companies in Indonesia and is behind some of the country’s best-known developments. After fairly flat results in both 2016 and 2017 due to weak purchasing power, Lippo Karawaci has said it is bullish about business prospects for the coming year. Stronger economic growth is expected to drive demand for quality housing among the middle classes. The brand’s huge Meikarta city development in western Java is expected to stimulate the property sector as well as have a knock-on effect on investment in surrounding areas. International hotel operator Langham Hospitality Group is developing two hotels in Meikarta and 19 other global partners have signed memorandums of understanding to invest in the project which will be a business, commercial and research hub and center for the arts as well as a place for sustainable residential living. Other significant changes in the past year include the sale of two plots in southeast Sulawesi for a hospital and shopping mall. 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. The group has recently become involved in payment systems, linking its own OVO digital payment and rewards system with the popular GrabPay mobile wallet service. It is also working with Japanese finance business Tokyo Century on a payment and lending service.