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Local unit of S'pore retailer invests in RI
PT Courts Retail Indonesia, a subsidiary of Singaporean retailer Courts Asia Ltd
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T Courts Retail Indonesia, a subsidiary of Singaporeanretailer Courts Asia Ltd., is looking to build 10 to 12 megastores in Indonesiaover the next five years.
'We have set a schedule to build 10 to 12 megastores over the next five years, but only three or four of them will be established as 'big-boxes'. The remaining stores will be in malls,' Courts Indonesia CEO Roy Santoso said on Friday.
Courts Indonesia will open its first megastore in Bekasi, West Java, in October. It has invested US$3 million to $4 million in the construction of a two-story, 12,000-square-meter building that will stand on a 2-hectare plot of land in Kota Harapan Indah. The groundbreaking was conducted in October last year.
The store will be in a free-standing building, what the firm refers to as a 'big-box' megastore, and will have sections for various international and local products. Twenty to 30 percent of tens of thousands of electronic items and furniture will be local-made brands, according to Roy.
Thirty percent of the building space will be reserved for electronic and IT products, while 15-20 percent for home appliances and accessories and the remainder for furniture. 'We will also provide delivery and customers can pay by cash, debit card, credit card or use the in-house credit program called the Courts Flexi Scheme,' he added.
The company chose Bekasi for its first megastore due to the city's high density with a 2.5 million population. Meanwhile, construction will start on a second megastore this year in Bumi Serpong Damai, South Tangerang, Banten, which will also be its headquarters. Construction is scheduled for completion in the second half of next year.
Courts Asia Ltd., which is listed on the Singapore Exchange, was established in Singapore in 1974 and in Malaysia in 1987, with 70 outlets that cover 1.3 million square feet. The company was originally founded in 1850 in the UK as a furniture and electronic goods retailer in the Caribbean and Asia. (gda)
