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First REIT Announces Extension of Properties’ Temporary Closures Due To COVID-19

First REIT Announces Extension of Properties’ Temporary Closures Due To COVID-19

April 29, 2020 — The Board of Directors of Bowsprit Capital Corporation Limited, in its capacity as manager of First Real Estate Investment Trust, refers to the announcements on 31 March 2020 and 13 April 2020 relating to the temporary closure of:

  1. (1)  Lippo Plaza Kupang (“LPK”) (which is part of the Kupang property comprising Siloam Hospitals Kupang & Lippo Plaza Kupang); and
  2. (2)  Lippo Plaza Buton (“LPB”) (which is part of the Buton property comprising Siloam Hospitals Buton & Lippo Plaza Buton).

The master tenants and operators of LPK and LPB will be extending the temporary closure of the retail spaces except for certain essential services, such as supermarkets, pharmacies and clinics, till 12 May 2020.

In addition, Hotel Aryaduta Manado (“HAMD”), as part of the Manado Property that is integrated with Siloam Hospitals Manado, temporarily closed its facilities until further notice in support of the Indonesian Government’s efforts to contain the spread of COVID-19. Imperial Aryaduta Hotel & Country Club (“IAHCC”) comprising an integrated hotel, Aryaduta Lippo Village (“ALV”), and a country club, Aryaduta Country Club (“ACC”), has also closed its country club services until further notice, in alignment with government’s efforts, while ALV remains fully operational.

These temporary closures may be further extended depending on measures taken by local authorities and the situation with the spread of Covid-19 in Indonesia.

Read here for more…

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