Sinar Mas Land and Ararasa develop new mall “Eastvara”
Tangerang (ANTARA) – Sinar Mas Land together with Ararasa developed the newest mall in BSD City Tangerang Banten called EASTVARA on 4.8 hectares of land with the tagline “The Light of Asia” with a fresh, modern and aesthetic concept inspired by the exotic luxury of Asian culture.
“We are targeting this newest lifestyle commercial center to be operational in the second quarter of 2024,” said Commercial BSD Sinar Mas Land CEO Anna Budiman in her statement after the groundbreaking ceremony in Tangerang, Saturday.
He explained that demand for retail space and premium shopping centers had increased, so Sinar Mas Land together with Ararasa developed the newest mall. In the future, EASTVARA will have a large captive market because it is surrounded by 14 residential areas, 60 clusters, up to 10,000 densely populated houses and is dominated by young people/millennials.
Apart from that, the growth of the retail sector in Indonesia is starting to increase positively. This occurs as the economic sector begins to recover and community activities gradually return to normal.
Based on data reported by the Indonesian Retail Entrepreneurs Association (Aprindo), retail sales performance growth in 2023 could reach around four percent or in line with Indonesia’s economic growth