Lippo Malls Indonesia Retail Trust has announced the sale of two Indonesian properties, Pejaten Village and Binjai Supermall, for the sum of S$124.3 million. This is a nominal 4.1% and 8.3% discount to their latest valuation.

The net divestment proceeds of approximately S$120.2 million will increase the Manager’s financial flexibility to fund growth through reinvestments, make distributions to Unitholders or pare down debt