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Plaza Medan Fair is a four-level regional shopping mall located at Jalan Jendral Gatot Subroto in the Medan Petisah district of Medan, North Sumatra, Indonesia. Opened in 2004, it spans a net leasable area of 67,567 square meters and gross floor area of 141,866 square meters, positioning it as the second largest mall in Medan, a city with over 2.5 million residents serving as the economic hub of the region.
The property, owned by Lippo Malls Indonesia Retail Trust since 2011, records an occupancy rate of 95.2% as of December 2024, exceeding the Medan average of 85%. It hosts 382 tenants in a balanced mix, including 35% food and beverage outlets, 30% fashion retailers, 15% entertainment venues, and others in electronics and services. Key anchors comprise Transmart Carrefour hypermarket, Matahari Department Store, Cinepolis cinema, Timezone arcade, Bata shoes, and AZKO pharmacy, blending international and domestic brands to attract middle-class families and young professionals.
Annual shopper traffic stands at 13.2 million, with average dwell time of 90 minutes and a 25% conversion rate, supported by sales per square meter of 15 million IDR.
Accessibility benefits from proximity to main roads, residences, and hotels, with 1,034 car parking spaces and 1,300 motorcycle spots, though Medan traffic congestion poses challenges.
Rent levels range from 300,000 to 500,000 IDR per square meter annually, averaging 500,000 IDR plus 5-10% turnover rent, offering medium-term lease flexibility. The mall operates multiple promotional events and loyalty programs amid Medan retail market growth of 5-7% annually, driven by rising incomes from trade and agriculture. However, leasing considerations include intense competition from larger venues like Sun Plaza, category saturation in fashion and F&B, e-commerce pressures, and an approaching land lease expiry in July 2027 under an agreement-based title, alongside aging infrastructure from the 2004 build requiring potential upgrades.
The primary catchment area covers 2 million people within 500,000 square kilometers, with secondary reach to additional populations, reflecting a diverse demographic of Batak, Malay, and Chinese ethnicities, median age of 30 years, household size of 4, 12% tertiary education rate, median household income of 72 million IDR, 5.2% unemployment, and per capita retail spending of 1,200 USD annually, including 82.65 USD on apparel, 500 USD on groceries, and 150 USD on electronics.
This setup provides stable leasing opportunities for retailers targeting affordable to mid-range segments, bolstered by high footfall recovery to 95% of pre-2020 levels and digital integrations like click-and-collect, though risks from economic slowdowns and oversupply in the urban core warrant caution.
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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
Demographic Profile and Footfall Metrics
Medan, with a population exceeding 2.5 million, features a median age of 30 years, average household size of 4 persons, 12% tertiary education attainment, median household income of 72 million IDR, 5.2% unemployment rate, and cost of living index of 35. The primary catchment area spans 500,000 square kilometers serving 2 million residents, while secondary coverage reaches 1.5 million square kilometers, with 2.5% population growth. Retail spending per capita totals 1,200 USD yearly, comprising 82.65 USD on apparel, 500 USD on groceries, and 150 USD on electronics, fueled by an expanding middle class. Plaza Medan Fair attracts 13.2 million annual visitors, averaging 1.1 million monthly, with 90-minute dwell times, 25% conversion rates, and projected 5% footfall growth, achieving 95% recovery from pre-2020 levels amid 70% internet penetration and high loyalty program adoption.
Tenant Mix and Occupancy Details
The mall accommodates 382 tenants across categories, with 35% dedicated to food and beverage, 30% to fashion, 15% to entertainment, and the balance to electronics, services, and other retail.
Anchors include Transmart Carrefour for groceries, Matahari Department Store for apparel, Cinepolis for cinemas, Timezone for arcades, Bata for footwear, and AZKO for pharmacy needs, featuring a mix of local and international brands targeting middle-income shoppers. Occupancy reaches 95.2% as of late 2024, surpassing the regional 85% average, with a 5% vacancy rate and moderate tenant churn due to category overlaps. Sales performance hits 15 million IDR per square meter annually, supported by diverse concepts and an active pipeline for new entrants, though fashion and F&B segments show higher density.
Competition and Operational Risks
Intense competition arises from Sun Plaza, with larger net leasable area and 80% occupancy, and Centre Point Mall, contributing to market saturation in fashion and F&B categories, alongside high e-commerce penetration and click-and-collect adoption. Retail crime remains at medium levels, managed by standard security. Operational challenges encompass aging infrastructure from the 2004 construction necessitating upgrades, land lease expiry on July 23, 2027, under an agreement-based title that could elevate costs post-renewal, and vulnerability to economic slowdowns in Medans trade and agriculture sectors. Oversupply in the urban core and city-wide traffic congestion further impact accessibility, with public transport limitations emphasizing vehicle dependency, potentially affecting long-term viability despite 5-7% annual retail growth.
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