Indonesia's real estate firm Lippo Karawaci seeks to divest non-core assets

Jakarta, Indonesia. Photo: Bayu Syaits/unsplash

PT Lippo Karawaci Tbk, an Indonesia-based company primarily engaged in property development, is looking to divest its non-core assets as it seeks increase financial flexibility and ramp up focus on urban development and build new townships across the archipelago.

Lippo Karawaci has already undertaken measures to sell its Puri Shopping Mall to Singapore-listed LMIR Trust – a transaction expected to be completed by end of this year, said a person aware of the development.

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