PT Bukit Darmo Property Tbk, one of the leading real estate developers in Surabaya continues to make breakthroughs. One of them is by changing the name of Lenmarc Mall to Fairway Nine Mall which is ready for a soft opening in May 2024.
So far, PT Bukit Darmo Property has focused on developing high-quality residential, commercial and mixed-use properties with a proven track record in producing successful projects, including Bukit Darmo Golf housing, Lenmarc Mall shopping center, and Nine Boulevard Premium Office Tower
Lenna Sumampow, Director of PT Bukit Darmo Property, said that in a significant strategic development, Lenmarc Mall, a shopping destination in West Surabaya, is now starting a new transformation. This mall will now be known by the new name Fairway Nine Mall, which marks an important change and the beginning of a new chapter
“The new name is certainly with a new concept that is different from before. Fairway Nine Mall is a new destination that will provide a fresher shopping environment to meet the tastes and preferences of diverse customers. This name is inspired by the idea of the many forms of experience that will be presented, so the concept of ‘nine’ is the embodiment of the variety of choices in accordance with the services at Fairway Nine Mall.”
Lenna added that Fairway Nine Mall with its new face has succeeded in presenting several new tenants so that you will feel the experience of shopping at the most complete supermarket in Surabaya and fun entertainment in the largest sportainment area for bowling and billiards in Surabaya. “In addition, Fairway Nine Mall is the only mall that combines indoor and outdoor areas harmoniously with a golf course as a backdrop. Until the soft opening in May 2024, the party is optimistic that the occupancy will reach 70 percent, while the grand opening is planned for December 2024 with an occupancy of 96 percent,” explained Lenna.
The name change from Lenmare Mall to Fairway Nine Mall will take effect from November 16, 2023. Management ensures that this change will not disrupt the activities of this mall. The management team remains committed to providing a different and enjoyable experience for all visitors during this transition period. Meanwhile, Director of PT Bukit Darmo Property Tbk. Brasada Chandra is optimistic that the name change to Fairway Nine Mall with a new concept can be a solution for a hangout place and meeting point for people in the West Surabaya area.
“For the design and concept change process, the company has prepared a Capex of IDR 91 billion and IDR 55 billion has been used. The rest will be used for phase II development,” explained Brasada in the Public Expose of PT Bukit Darmo Property Tbk. Thursday, November 16, 2023.
Brasada added that the company’s performance until the third quarter of 2023 showed improving progress. Total assets increased to IDR 756,777 billion from IDR 752,248 billion in 2022. Meanwhile, total revenue decreased due to expansion and renovation to IDR 25,592 billion from the previous year of IDR 26,718 billion.
“However, net loss after tax decreased to IDR 20,667 billion from the previous year of IDR 27,150 billion. “With the change in concept and the entry of leading tenants at Fairway Nine Mall, we are optimistic that performance in the coming year will be better,” concluded Brasada.
