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Sinar Mas Land and Courts hold Groundbreaking Ceremony
of Courts Megastore in BSD City
• Located in Bumi Serpong Damai (BSD) City, Southwest of Jakarta, the Megastore has a
retail space of 20,400 sqm (220,000 sq. ft.), making it the largest store in Courts Asia’s
portfolio
• Courts’ second Megastore under the ‘Build-to-suit’ concept by Sinar Mas Land
Jakarta, January 29 2015 - Sinar Mas Land, one of the largest and most trusted property
developers in Indonesia, and Courts Asia Limited (“Courts Asia” and together with its
subsidiaries, “the Group”), one of Southeast Asia’s leading electrical, IT and furniture
retailers, today held a groundbreaking ceremony for the retailer’s second Megastore in
Indonesia in BSD City, the largest township in the country.
Like the first Megastore in Kota Harapan Indah in Bekasi, Courts Megastore BSD City is a
retail concept with vast retail space that showcases a wide range and variety of products
under one roof. This concept, first made popular in US and Europe, essentially seeks to
achieve economies of scale through sales volume and locates retail operations in large-scale
buildings of more than 4,650 sqm (50,000 sq. ft.).
In attendance were Mr Michael Widjaja, Group CEO of Sinar Mas Land; Mr Ishak Chandra,
Managing Director of Corporate Strategy and Services of Sinar Mas Land; Dr Terence Donald
O’Connor, Group CEO of Courts Asia; and Mr Roy Santoso, CEO of PT Courts Retail
Indonesia.
The groundbreaking event was held to symbolically mark the beginning of construction of
Courts Megastore BSD City on a land area of 22,700 sqm (244,300 sq. ft.). The three-storey
building, which will be Courts’ flagship store in Indonesia, will dedicate 20,400 sqm (220,000
sq. ft.) to retail space and also incorporate an additional 6,610 sqm (71,000 sq. ft.) for the
support office and regional distribution centre.
Expected to open by late 2015, the new Courts Megastore in BSD City will offer the widest
range of home and lifestyle products under one roof through a host of innovative retail
concepts that Courts is renowned for such as the ‘Live’, ‘Play’, ‘Relax’ and ‘Sleep’ shopping
zones, Sofa Maker, Market Hall, Courts Kitchen, Kids Play Area and Flexi Lounge. Driven by
a customer-centric philosophy, the Megastore will be a one-stop shopping destination for
homeowners and the community in Serpong, Tangerang, offering the best in scale, range and
price.
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Dr Terence Donald O’Connor, Courts Asia’s Executive Director and Group Chief Executive
Officer said: “Sinar Mas Land’s track record and reputation as an experienced developer with
strategic land banks has been integral in our expansion plans in Indonesia. The launch of our
largest Megastore a year after opening our first signifies our continuous commitment to serve
the needs of Indonesian consumers, and establish ourselves as the leading retailer of
electrical, IT and furniture products in the country. We are looking forward to having a
substantial presence in the heart of BSD City, with its bustling and vibrant residential and
business environment, accessible location and high population density.”
Mr Michael Widjaja, Group CEO of Sinar Mas Land commented: “Sinar Mas Land is delighted
to be able to reenergise the retail landscape with Courts Asia through the development of two
Megastores in premium locations. The ‘Build-to-suit’ scheme is a breakthrough concept,
where we collaborated closely with Courts to develop a custom-built facility that will bring to
life innovative retail concepts.”
Build to Suit Concept
The partnership between Sinar Mas Land and Courts Asia began with the signing of a
Memorandum of Understanding (MOU) in July 2013. The ‘Build-to-suit’ scheme is a concept
arrangement whereby the developer (typically the land owner) finances and develops the
premises according to the needs of prospective tenants. The premises are then leased back
to the tenant under a long term lease arrangement. In this case, Sinar Mas Land has been
entrusted by Courts Asia to custom-build their premises and two Megastores, underpinned by
Sinar Mas Land’s excellent reputation as a developer in Indonesia, with solid financial
capability, as well as its extensive land bank. The first Courts Megastore in Kota Harapan
Indah will be leased for 28 years, whereas the Courts Megastore in BSD City will be leased
for 30 years.
In October 2014, Courts opened its first Megastore in Kota Harapan Indah, Bekasi, which was
also developed by Sinar Mas Land under the ‘Build-to-suit’ concept. The two-storey
Megastore spans 12,900 sqm (139,000 sq. ft.) of retail space within a 2-hectare land, and has
become the go-to shopping destination with over 12,000 home and lifestyle products from 200
brands.
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Indonesia is a key growth driver for Courts Asia. The retailer plans to expand to 12 stores
within 5 years in Greater Jakarta, and will be opening a store in Mega Bekasi Hypermall in the
second half of 2015. Upon opening in late 2015, Courts Megastore BSD City will be the
retailer’s third store in Indonesia.
-END-
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About Sinar Mas Land
Sinar Mas Land is a leading property developer in Southeast Asia with more than 40 years of
experience in the field of property development in Indonesia.
With more than 10,000 ha land bank and 50 major projects developed in Indonesia, Sinar Mas Land is
regarded as one of the biggest and most trustworthy property developer in Indonesia. The success of
Sinar Mas Land is also recognized by the world through the numerous prestigious awards it receives
such as the International World FIABCI Prix d'Excellence Award in Cyprus (2011), World FIABCI
Prix Award in Taichung (2013), and the Asia Pacific Property Awards in Kuala Lumpur (2012 &
2013) and Cityscape Awards For Emerging Market in Dubai (2014).
With the support of its strong management team, Sinar Mas Land is also known as the developer of the
most successful independent city (Through BSD City Development), as well as a pioneer in the
development of the concept of cluster housing / residential concept (Kota Wisata, Legenda Wisata,
Grand Wisata, among others). In addition, Sinar Mas Land is also known as the pioneer in Strata
Mall / Trade Center (ITC) projects in Indonesia.
Starting with the Courts Megastore project, currently Sinar Mas Land also offers 'Build to Suit' as one of
its newest flagship product which addresses the commercial segment, especially those with specific
requirements such as exclusivity and flexibility.
Sinar Mas Land also has strong track record in strategic partnership with partners such as Sojitz
Japan and Itochu – Japan, Hongkong Land, as well as Kalbe and Kompas Gramedia of
Indonesia.
About Courts Asia Limited (Bloomberg Stock Code: COURTS SP)
Courts Asia, the holding company for Courts (Singapore) Pte Ltd, Courts (Malaysia) Sdn Bhd and PT
Courts Retail Indonesia, has been listed on the Mainboard of the Singapore Exchange since October
2012. With its roots as a furniture retailer from the UK, the Courts brand was established in Singapore
and Malaysia in 1974 and 1987 respectively and recently entered Indonesia in 2014.
Today, Courts Asia is a leading retailer in Southeast Asia and the Group has expanded its range to
include electrical, IT and furniture products. In line with Courts Asia's mission to 'make aspirational
home products easily affordable', the Group abides by the 'Courts Price Promise' and is committed to
offering competitive prices across its product range. In addition, Courts Flexi-Scheme, its in-house
credit is available as one of the payment options.
Innovative sub-brands that have been launched include Courts Connect, Sofa Maker, Sleep Clinic and
Dr Digital. In 2012, the Group re-launched eCourts in Singapore, its online store which carries over
15,000 SKUs.
Currently, Courts Asia operates more than 70 stores across three markets, spanning over 1.5 million
sq. ft. of retail space. These include the first Megastore that was pioneered in Singapore in 2006 as part
of the Economic Development Board's 'Warehouse Retail Scheme' to convert industrial land for
commercial use. The Group's first Megastore in Malaysia was officially opened in Klang Valley on 20
July, 2013, and it recently expanded into Indonesia by opening a Megastore in Bekasi on 18 October
2014.
For more information, please visit www.courts.com.sg.
For media queries, please contact:
Panji Himawan
Head of Corporate Communication
Sinar Mas Land
Tel : 021- 50 368 368
Email : [email protected]
Denise Tan
Communications Manager
Courts Asia Limited
Tel : +65 6309-7780
Email : [email protected]
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