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Adi Sucipto Mall is a regional shopping center located at Jl. Laksda Adisucipto No.80A in Yogyakarta, Indonesia, with a gross leasable area of 40,000 square meters across three levels, constructed in 2006 and owned by PT Gekko Sukses Makmur under self-management. It features 80 retail stores, including anchor tenants such as Transmart, ACE Hardware, Informa, Gramedia, Timezone, and Cinema XXI, providing medium tenant diversity with five unique stores.
Visitor interests highlight shopping at 40 percent, dining at 35 percent, and home decor at 25 percent, targeting young adults interested in trendy fashion and streetwear, though feedback suggests enhancements in family-friendly amenities like children's play areas and interactive zones, as well as diverse dining options including international and healthier choices. The property maintains an 8 percent vacancy rate with 3,000 square meters available for lease, supported by annual footfall of 1.5 million visitors, averaging 6,250 monthly, with a 1.5-hour dwell time and 25 percent conversion rate, projecting 4 percent yearly growth in foot traffic.
Sales performance stands at 8,000,000 IDR per square meter annually.
Accessibility is favorable with proximity to main roads, good public transport links, medium pedestrian traffic, and 400 parking spaces. The primary catchment area covers 10 square kilometers with 800,000 population, secondary at 50 square kilometers, featuring a median age of 28 years, household size of 3.8 persons, 25 percent tertiary education rate, median household income of 4,500,000 IDR monthly, and per capita retail spending of 2,500,000 IDR yearly, including 450,000 IDR on apparel, 1,200,000 IDR on groceries, and 300,000 IDR on electronics.
Leasing advantages include competitive rent of 150,000 IDR per square meter per month, flexible medium-term leases, strong anchor presence driving traffic, planned expansion initiatives, 12 annual promotional events, 20 percent loyalty program penetration, and digital signage for visibility. However, challenges encompass high e-commerce competition amid 70 percent internet penetration and 30 percent click-and-collect adoption, medium competitor density in similar categories, potential gaps in tenant mix for family and trendy segments, and an aging infrastructure from 2006 build date requiring maintenance considerations in a market with 5.3 percent unemployment and cost of living index of 65 relative to Jakarta's 100.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Catchment
The primary catchment area spans 10 square kilometers with a population of 800,000, extending to 50 square kilometers secondarily, exhibiting 1.2 percent annual population growth. Demographics include a median age of 28 years, household size of 3.8 persons, 25 percent tertiary education attainment, median monthly household income of 4,500,000 IDR, 5.3 percent unemployment rate, and cost of living index of 65 (base Jakarta 100). Retail spending per capita reaches 2,500,000 IDR annually, allocated as 450,000 IDR to apparel, 1,200,000 IDR to groceries, and 300,000 IDR to electronics, supporting mid-tier retail viability but indicating sensitivity to economic fluctuations in a student and young professional-heavy region.
Tenant Mix and Occupancy
Occupancy stands at 92 percent with an 8 percent vacancy rate and 3,000 square meters of available space across 80 stores, anchored by Transmart for groceries, ACE Hardware and Informa for home improvement, Gramedia for books, Timezone for entertainment, and Cinema XXI for cinema. Tenant mix offers medium diversity with five unique outlets, emphasizing shopping (40 percent of visits), dining (35 percent), and home decor (25 percent), appealing to young adults for fashion and streetwear. Operational quality includes low retail crime, CCTV security, guards, and 12 yearly events, though visitor input points to weaknesses in family-oriented features and broader dining variety, potentially impacting retention in a market favoring experiential retail.
Competition and Lease Terms
Medium density of competing regional malls exists alongside high e-commerce pressure, with 70 percent internet penetration and 30 percent click-and-collect usage challenging physical sales. Rent levels average 150,000 IDR per square meter monthly, offering medium flexibility in lease terms suitable for mid-sized retailers, bolstered by 8,000,000 IDR annual sales per square meter and 25 percent conversion from 1.5 million yearly footfall. Advantages include strategic location near main roads and public transport, 400 parking spots, and expansion plans enhancing long-term positioning, while risks involve infrastructure aging since 2006, market saturation in basic categories, and the need to counter digital shifts through hybrid models to sustain performance in Yogyakarta's evolving retail landscape.
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Yogyakarta
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Yogyakarta
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