Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
OF A NEW GENERATION
PT Surya Pajintan
mall of borneo
table of contents
Table of Contents 03
Executive Summary 04
Elevator Pitch 05
MARKET SNAPSHOT 06
Global Retail Trends 08
The Asean Market 09
The Indonesian Market 10
Retail Sales in Indonesia 12
GROWTH THROUGHOUT THE COUNTRY 14
INDONESIA RETAIL REPORT Q3 2015
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
ELEVATOR PITCH
PT Surya Pajintan has a proven track record of bringing commercial projects from
concept to implementation on time and on a commercially successful basis.
The principles of the company are well renowned The province is home to a population of 4,546 million
business people with strong local roots in Pontianak and (2014) with the two largest population areas being Kota
have proven record in respect of development projects Pontianak with 575,843 people and Kubu Raya with
within Indonesia. 518,803 people.
The Mall of Borneo mixed-use development at Pontianak currently only has one modern shopping
Pontianak will be the focal point for the city and catalyst mall, Ayani Mega Mall, opened in 2005 it is the only
to drive further urbanisation for the surrounding areas. integrated mall in the city.
Pontianak is the capital city of West Kalimantan, it has Mall of Borneo will surpass any current facilities in
an international airport connecting directly to other the province and provide a destination for multiple
Asian countries and for internal flights within Indonesia, activities in addition to the retail shopping experience.
being a 1hr 20 minute flight time to Jakarta.
VISION VALUES
To be the model of innovation and excellence for • Responsible and committed to the mall of
borneo
mixed-use developments, social entrepreneurship, and local environment and population
environmental sustainability. • Committed to the delivery of family Hotel and
values in the retail experience Business Park Business Meeting
Units Facilities
MISSION • Innovation
To responsibly deliver integrated leisure and retail • Social responsibility and enhancement
solutions to the populous in Indonesia through the
delivery of world leading arcitectural developments,
and to be a driver of innovation in the leisure and “Clients will be able to experience unique events in a
business enviroments of the region
safe and rewarding environment – allowing different
experiences across the development but with a
common core of quality and feeling of belonging
through an ability to communicate...”
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
Market
Snapshot
The following section has been included
in order to provide background to
the global and regional markets and
their opportunities. Additional data is
provided on the Indonesian specific
market and government focus.
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
08 09
INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
INDONESIA
MARKET
Retail Sales: $140 billion USD (2013)
Real Sector Growth: 15% (2014)
Number Employed: +20 million
Modern Retail Market Share: ±40%
Main Areas: Hypermarkets, Supermarkets, Department Stores, Mini Markets,
Speciality Stores.
Relevant Law: Presidential Decree No. 111/2008 which states that foreign
companies may only operate in retail spaces greater than 1,200
sqm for hypermarts and 2,000 sqm for department stores.
6.9
Members of The Consuming Class Million Members of The Consuming Class Elite 7.5 and more
8.4 16.5
Affluent 5.0-less than 7.5
74% 86% 22.2 Uppermiddle 3.0-less than 5.0 45.3
of GDP of GDP 41.6 Middle 2.0-less than 3.0 66.2
55 Million 113 Million 44.4 Emerging middle 1.5-less than 2.0 50.5
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
16,000
indonesian rupiah
14,000
12,000
10,000
8,000
6,000
4,000
2,000
arrivals
Despite the global contraction over the last few years Indonesia has enjoyed 900,000
The benefit of a weaker currency
continued year on year growth in the retail sector. however is that foreign tourist
50 numbers are increasing and their 800,000
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
gdp compound annual growth rate, 2013-30 (%) less than 5 percent
5 to 7 percent
more than 7 percent
sulawesi
throughout papua
the country
maluku
Jakarta
java
bali and nusa
tenggara
THE MAJORITY
Large, mid-sized, and small OF INDONESIA’S
middleweight cities FASTEST-
gdp compound annual growth
rate, 2010-30
share of
gdp, 20302
share of
population, 2030
will continue to grow faster GROWING CITIES Jakarta 5.1 19 4
than Jakarta
ARE OUTSIDE JAVA Large middleweights
9.1 11 10
Cities 5 million - 10 million
Mid-sized middleweights
6.9 15 14
Cities 2 million - 5 million
Small middleweights
6.3 37 40
Cities 150,000 - 2 million
Rural1 2.0 14 29
1 We use the definition of urban and rural areas from Indonesia’s Central Bureau of Statistics.
2 Model is based on more than 400 cities and districts, covering 90 percent of GDP. GDP is allocated to urban and rurals areas based on
population share, with a 28 percent premium per capita for urban areas based on historical income differences.
SOURCE: 2010 Population Census and Socio-Economy Survey, Indonesia’s Central Bureau of Statistics. McKinsey Global Institute
analysis.
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
KEY FACTS:
pontianak
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
PONTIANAK
Pontianak sits on the equator and is the
Capital city of West Kalimantan.
• Steel • Coal
• Bauxite • Oil & Gas
• Palm Oil • Timber
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
kalimantan
kalimantan population
barat province economic growth
5,000,000 1.9%
1.8%
51.1% 48.9%
4,500,000 1.7% male female
subject site
1.6%
4,000,000 1.5%
2009 2010 2011 2012
population growth
male female
Total Area: 500,000 2.0%
Largest Population:
population of kubu raya kubu raya by gender
Kota Pontianak (575,843 people) 540,000 3.0%
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
200,000
grdp of kalimantan barat grdp of pontianak
100,000
Services Services
0
Financial, Real Estate & Financial, Real Estate &
Business Services Business Services
-100,000
0-4 5-9 10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 >75
Construction UP Construction
female male
Electricity, Gas, Water Electricity, Gas, Water
Supply Supply
population of pontianak by age groups 2013
Manufacturing Industry Manufacturing Industry
40,000
Mining & Quarrying Mining & Quarrying
30,000
10,000
0% 10% 20% 30% 0% 5% 10% 15% 20% 25% 30%
0
2012 2011 2010 2013 2012 2011 2010
-10,000
-20,000
grdp of kubu raya
-30,000
-40,000 Services
0-4 5-9 10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 >75
Financial, Real Estate &
Business Services
female male
Transportation &
UP
Communication
population of kubu raya by age groups 2012 “The positive GRPD growth in
40,000
Trade, Hotel & Restaurant
KalBar, Pontianak and Kubu
30,000 Construction Raya indicated an improvement
20,000
Electricity, Gas, Water
Supply
of buying power.”
10,000
0
Manufacturing Industry
-10,000
Mining & Quarrying
-20,000
-30,000 Agriculture
-40,000
0% 20% 40% 60%
0-4 5-9 10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 >75 source: central statistic body of kalimantan barat, pontianak & Kubu
2012 2011 2010 raya 2014
female male
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
increase in KalBar and Kubu Raya. per capita grdp in kalbar & kubu raya Segment, classified in KS II, by about 40% of the total
60,000
• The higher consumption of Non-Food population.
Year Current Constant Current Constant
above Food indicates higher income • The second highest percentage of household 50,000
households in the overall society*. 2011 14,906,907 7,160,191 19,518,619 10,284,955 prosperity in Kalbar and Kubu Raya are KS I (Mid-
40,000
• Among the Non-Food consumption, the 2012 16,420,549 7,448,650 21,458,100 10,743,146 Low Segment), whereas Pontianak is KS III (Mid-Up
majority was used for needs that are 2013 18,304,010 7,772,462 24,079,668 11,317,951 Segment). This clearly identifies much higher 30,000
related to Housing and miscellaneous market segment available in Kota Pontianak.
20,000
goods or services • The total proportion of Middle, Mid-Up and Upper
segment in Pontianak reach 47%. 10,000
per capita consumption in kalbar per capita consumption in pontianak
0
parties & ceremonies parties & ceremonies 2009 2010 2011 2012 2013
100,000
10,000
per capita consumption for food & non-food food non-food
0 0
42.7% 55.3% 44.7% 2010 2011 2012 2013 2009 2010 2011 2012 2013
source: central statistic body of kalimantan barat, pontianak & Kubu raya 2014
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
retail centre
competition
surrounding areas
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
competition map
competing retail centres
• There are very limited numbers
of retail centres in Pontianak.
• Only 4 properties matches the
retail centre category.
• Mall Pontianak (Ramayana) is
actually an owner-occupied
building, but still has several
Ayani Mega Mall mall matahari mal pontianak plaza khatulistiwa
areas leased to third party
tenants.
• Mall Gajah Mada, once a
prominent mall in the city
centre, has been converted and
now become Aston Hotel.
• No Branded tenants
• Plaza Khatulistiwa is an old • Local unfamiliar brands
retail centre, comprises of old • Trade center style kiosks
mall of borneo
kiosks and located underneath
LEGEND
1. Ayani Mega Mall Hotel Santika.
2. Mall Matahari Pontianak
speciality speciality
Year target occ.
No Name Location rental price charge
Open market rate
(per sqm/mth) (per sqm/mth)
retail centre supply 1 Ayani Mega Mall Jl. Ahmad Yani 2013 Rp300,000 Rp80,000 Middle 97%
1 Ayani Mega Mall Jl. Ahmad Yani One-stop Shopping Mall 2005 18,700 42,000 4 Khatulistiwa Plaza Jl. Diponegoro 2006 N/A N/A Middle-Low 95%
Jl. Jend. Urip Rp302,000 Rp76,000 96%
2 Mall Matahari Neighbourhood Mall 2000 8,900 19,000
Sumoharjo
Mall Pontianak Jl. Tanjung • Average Base Rental: Rp302,000.- per sqm/month
3 Owner-occupied Majority n/a 6,600 12,000
(Ramayana) Pura • Average Service Charge: Rp76,000.- per sqm/month
• Average Occupancy: 96%
4 Khatulistiwa Plaza Jl. Diponegoro Kiosks Centre n/a 4,000 7,800
• Total Competing Supply: 80,800 sqm of GFA from 4 • Other than the mentioned retail centres above, other
projects. retail facilities are mostly in the form of a large local
• Average Gross Size of 20,000 sqm → Small-Medium supermarket such as Harum Manis, Kaisar, and Ligo
Size malls in this small market Mitra.
• The largest retail centre is Ayani Mega Mall with a
size under 50,000 sqm GFA.
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
retail centre
potential
mall of borneo
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
pontianak
regency
pontianak
city
mall of borneo
Target
Market and
kubu raya
regency Development
Concept
Retail Considering:
• Limited supply of good retail center
* Regional Centre: 400,000-800,000 sqft, general merchandise, 50-70% anchor ratio. (ICSC shopping centre definitions)
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
2 Mall Matahari 3.5 5.0 4.5 3.0 3.0 3.0 4.0 Rp235,000 18% 10% 10% 12% 15% 15% 20% 100% per sqm/month
3 Mall Pontianak (Ramayana) 4.0 5.0 3.5 2.0 2.5 2.5 5.0 Rp439,560 Ayani Mega
1 4.5 4.0 4.5 4.0 3.5 4.0 4.0 4.1 Rp300,000
Mall
4 Ruko at Ayani 2 1.0 3.0 2.0 1.0 1.0 1.0 1.0 Rp33,333
2 Mall Matahari 3.5 5.0 4.5 3.0 3.0 3.0 4.0 3.6 Rp235,000
5 Ruko at Ayani 1.0 5.0 3.0 1.0 1.0 1.0 2.0 Rp36,651
Mall Pontianak
6 Ruko at Pontianak Mall 1.0 4.0 4.0 1.5 2.0 1.0 2.0 Rp32,552 3 4.0 5.0 3.5 2.0 2.5 2.5 5.0 3.6 Rp439,560
(Ramayana)
Correlation 92.9% 45.3% 47.0% 63.7% 73.6% 78,1% 95.7% 496% Ruko at Ayani
4 1.0 3.0 2.0 1.0 1.0 1.0 1.0 1.3 Rp33,333
Weighted 2
18.7% 9.1% 9.5% 12.8% 14.8% 15.7% 19.3% 100%
Correlation 5 Ruko at Ayani 1.0 5.0 3.0 1.0 1.0 1.0 2.0 1.8 Rp36,651
Ruko at
6 1.0 4.0 4.0 1.5 2.0 1.0 2.0 2.0 Rp32,552
Pontianak Mall
Due to the limited availability of retail centres in The factors that determine prices the most are:
subject site 4.5 3.0 4.0 5.0 4.0 4.5 3.0 4.0 Rp343,000
Pontianak, we have also included commercial spaces • Average store size in the retail centre – (96
available in shophouses, which are obviously cheaper correlation)
* Average base rent for speciality tenants, year 2014
than retail spaces in retail centres, but are still useful to • Crowd-pulling factor of the property (or retail The price of the retail space was based on the availability price and position, which is also intrepreted in the “store size” (higher score for store
identity the likely rental rate people are willing to pay in centre) – (93% correlation) means smaller speciality store sizes)
relation with the advantages/disadvantages of a retail • Facilities – (78% correlation) Examples: The available retail space for lease at Ramayana is a small space on the 2 th floor. This is the reason why the oofered price is quite
expensive.
business located in the property. • Design and Quality – (74% correlation)
500,000
450,000
MAL PONTIANAK (RAMAYANA)
400,000
250,000
MALL MATAHARI
200,000
150,000
100,000
RUKO
GAJAHMADA
50,000 RUKO AYANI 2
RUKO PONTIANAK MALL
0
1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0
The estimated achived average rental rate (per sqm per month) for specialty store in Mall of Borneo in 2014 price:
Rp343,000.- per sqm/month, excluding service sharge
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
% of total
estimated estimated
type of trade floor tenant
With the existing retail centres close to the catchment area, and considering their different development scales, rent in 2014 rent in 2017
space* sizeO
the retail centre on the subject site at Jl. Ahmad Yani 2 is estimated to have a market share of 46.0% in the selected Anchor Tenants 30% 19,080 Rp50,000 Rp61,000
catchment area. Specialty Stores 25% 15,900 Rp343,000 Rp420,000
F&B 20% 12,720 Rp377,500 Rp462,000
Big Tenants (incl.
Further financial analysis for the Mall will be using our recommended
retail space configuration with an assumption of 95% occupancy year-
round.
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
tenant
1 PT. TOZY SENTOSA CENTRO BY PARKSON
2 PT. MATAHARI PUTRA PRIMA, Tbk HYPERMART
overview
3 PT. LESTARI MITRA SEMBADA XXI PREMIERE
4 PT. OPTIK TUNGGAL SEMPURNA OPTIK TUNGGAL
5 PT. OPTIK MELAWAI PRIMA OPTIK MELAWAI
The current progress on 6 OPTIK SEIS OPTIK SEIS
7 PT. MONICA HIJAU LESTARI THE BODY SHOP
securing retail tenants 8 PT. MEGA SUKSES LOLY POLY
has been very successful 9 CV. PS BREAD CRYSTAL JADE
10 PT MAHKOTA JAYA SENTOSA SHOELINE
with more than fifty 11 PT. GOLDEN VENUS EVERBEST
signed and secured 12 LUMINOUX RADIANCE LUMINUOX
mall of borneo
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
equator monument
the management
The two Principals of the company are Mr Siman & Ms Merry who together have
a strong local presence in Kalimantan as well as managing the business interests
site surroundings kapuas bridge
across Indonesia.
supadio airport
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo
professional partners
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INFORMATION MEMORANDUM OF A NEW GENERATION mall of borneo