The manager of Lippo Malls Indonesia Retail Trust (LMIRT) has reached an agreement with its sponsor's wholly-owned subsidiary to buy the strata title units of Lippo Mall Puri at a lower revised price of 3.5 trillion rupiah (S$330.2 million).

This followed an update revaluation of Lippo Mall Puri to account for the impact of the Covid-19 outbreak, the real estate investment trust's (Reit) manager said on Monday in a regulatory update. Previously, LMIRT's manager proposed to acquire the mall for 3.7 trillion rupiah.