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Sinar Mas and Japan’s Aeon ink deal for 20 new malls in Indonesia – Retail in Asia

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Sinar Mas and Japan’s Aeon ink deal for 20 new malls in Indonesia

The property developing arm of Indonesia’s Sinar Mas Group conglomerate has signed a deal with Japan’s largest shopping mall developer and operator to build 20 shopping malls in Indonesia over the next eight years.

Michael Widjaja, CEO of Sinar Mas Land, in a meeting with journalists on Friday announced that Sinar Mas and Aeon Mall would form a joint venture, called Aeon Mall Sinar Mas Land Indonesia (AMSL Indonesia).

The joint venture will kick things off by building the Aeon Mall BSD in Bumi Serpong Damai City, Sinar Mas’s 6,000-hectare township in Serpong, Banten.