Lotte Shopping Co., South Korea's second-largest retailer, said Monday it will build four shopping malls across Indonesia by 2018 to meet rapidly-growing consumption potential.
"We are planning to construct shopping malls in Jakarta, the capital of Indonesia, and Surabaya, the country's second-largest city, and Medan, a northeastern city of Sumatra Island, over the next three years," an official at Lotte Shopping said.
The plan took into consideration Indonesia's burgeoning potential for consumption, he said.
According to a report released in March 2013 by Boston Consulting Group, the number of middle-class Indonesians is expected to reach 141 million in 2020, up from 74 million in 2012.
