We mentioned in the past that Indonesian lease renewal and extension looks to be extremely cheap.
MRCCC
extend their land lease for 20 more years for a sum of SGD 28k.
Today we got news that LMIR have renewed their land lease for another 20 years.
The Board of Directors of Lippo – Mapletree Indonesia Retail Trust Management Ltd, as Manager of Lippo – Mapletree Indonesia Retail Trust (“LMIRT”), wishes to announce that title to the retail space in the property known as “Plaza Madiun” (address : Jalan Pahlawan, Madiun, East Java) (referred to as Retail Space in LMIRT’s portfolio) under a “right to build” title (Hak Guna Bangunan) covering total land area of 5,583 sqm, has been successfully renewed for another 20 years from the date of expiry of 10 February 2012. Therefore, the new expiry date of title of the retail space at Plaza Madiun is now 9 ...
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