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Bandung Indah Plaza, located at Jalan Merdeka No. 56 in the heart of Bandung's Central Business District, is a mid-tier retail mall completed in 1990 with a gross floor area of 75,868 square meters and net lettable area of 30,361 square meters across four levels plus three basement levels and a carpark. It features 172 tenants, anchored by Matahari Department Store, Hyfresh supermarket, and MR D.I.Y., alongside Cinema XXI, Richeese Factory Outlet, and various local specialty stores focusing on apparel, electronics, and dining.
The tenant mix caters primarily to low to upper-middle income consumers, with a strong emphasis on local Indonesian brands rather than international luxury options. Occupancy stands at 85.9% as of December 2024, below the portfolio average of 93.9% but aligned with industry norms around 85.3% for similar properties in West Java. Annual footfall reaches 4.9 million visitors, benefiting from its strategic position on a major north-south artery, proximity to middle to upper-income residential areas, and attachment to the 5-star Aryaduta Bandung Hotel, enhancing accessibility for both locals and tourists.
The surrounding demographics include Bandung's population of approximately 2.5 million, characterized by a young median age of 30 years, growing middle class with household incomes averaging IDR 5-10 million monthly, and high student presence from universities like ITB.
Market position as one of Bandung's oldest malls provides stable, established traffic in a competitive landscape with over 20 shopping centers, including upscale rivals like Paris Van Java Mall and family-oriented Trans Studio Mall.
Leasing advantages include relatively affordable base rents estimated at IDR 300,000-500,000 per square meter per month for ground floor spaces, flexible lease terms under the land lease expiring in 2030, and robust parking with 602 car lots and 1,068 motorcycle spaces supporting Indonesia's two-wheeler dominant mobility. However, challenges arise from the property's age leading to potential maintenance issues and less modern amenities compared to newer developments, as well as market saturation in Bandung's retail sector where e-commerce growth and economic pressures post-2023 have softened discretionary spending in non-essential categories.
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Hours of Operation
Hours
| Monday | 10:00 AM — 10:00 PM |
| Tuesday | 10:00 AM — 10:00 PM |
| Wednesday | 10:00 AM — 10:00 PM |
| Thursday | 10:00 AM — 10:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 10:00 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Accessibility
Bandung Indah Plaza targets low to upper-middle income demographics in a city with 2.5 million residents, median age 30, and average household incomes of IDR 5-10 million. Surrounding areas feature middle to upper-income estates and educational institutions, driving consistent local traffic. Accessibility is strong via Jalan Merdeka, a key arterial road, with public transport options including Angkot minibuses and proximity to Bandung Station 1.5 km away. Parking supports 602 cars and 1,068 motorcycles, accommodating the prevalent two-wheeler usage. Annual footfall of 4.9 million reflects steady visitation, though traffic congestion in the CBD can pose access challenges during peak hours, potentially impacting impulse shopping.
Competition and Market Factors
Bandung's retail market is highly competitive with over 20 malls, including premium venues like Paris Van Java (upscale international brands) and Trans Studio Mall (entertainment-focused), drawing away higher-spending segments from BIP's mid-tier positioning. Market saturation is evident in apparel and F&B categories, with occupancy at 85.9% indicating moderate demand pressure amid e-commerce rise (projected 15% annual growth) and post-pandemic shifts reducing mall visits by 10-15%. Regional economic factors, such as West Java's 5.2% GDP growth in 2024 but inflation at 3.5%, constrain consumer spending on non-essentials. BIP's strength lies in its local brand focus, but retailers face risks from weaker categories like fashion amid 20% market share loss to online platforms.
Operational Quality and Lease Considerations
As a 1990-built property, Bandung Indah Plaza exhibits aging infrastructure with recent renovations maintaining functionality but lacking cutting-edge features like advanced HVAC or experiential zones found in newer malls. Operational quality includes reliable security and housekeeping, supported by Lippo Malls management, yet elevator reliability and aesthetic appeal may deter premium tenants. Lease terms offer base rents of IDR 300,000-500,000 per sqm/month, with turnover rents at 5-10% of sales, and typical 3-5 year commitments under the ABS 1 land scheme expiring 2030. Risks include potential renovation disruptions and competition for anchor spaces, but advantages encompass established tenant synergies and CBD visibility for brand exposure in a market where prime retail yields average 7-8%.
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Bandung
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City Snapshot
Bandung
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