Courts to set up two Big-Box megastores in Indonesia through tie-up with Sinar Mas Land
Mainboard-listed Courts Asia, which retails furniture and IT products, has entered into a memorandum of understanding with Sinar Mas Land to build its first two Big-Box megastores in Indonesia.
Under the agreement, Courts Asia will lease the two megastores at Bekasi, located in the biggest development area of Kota Harapan Indah and at Serpong, located in the BSD City Township.
These stores will be built by Sinar Mas Land and leased back to Courts Asia under the "build-to-suit" concept, for 28 and 30 years respectively.
The agreement also forms the framework for Courts Asia to partner Sinar Mas Land to build additional stores in the future on the same terms, when suitable sites are identified.