Lotte Group, the country’s fifth-largest conglomerate, plans to acquire several multimillion-dollar shopping complexes in Indonesia to expand its presence in the country, Korean media outlets reported Tuesday.

According to officials at an investment bank, the retail giant selected Samil PricewaterhouseCoopers as an accounting adviser to buy a seven-story building in Senayan, located in south Jakarta.

A Lotte Group spokesperson declined to provide further details of the deal or confirm the acquisition, saying “nothing has been decided yet.”

The 48,000-square-meter complex comprises a seven-floor high-end shopping mall, an office tower, an apartment tower and a five-star hotel operated by Sofitel.

The move is in line with the group chairman Shin Dong-bin’s aggressive investment strategy to inject 7.5 trillion won ($6.7 billion) in the retail, tourism and construction sectors this year, up 31.5 percent from 5.7 trillion won in 2014’s budget.

“We should not hold back on investments to seek growth despite the worsening business environment,” he said in February while announcing the group’s investment and employment plan for 2015.

In the latest move, the retail giant signed a contract to buy the New York Palace Hotel in Manhattan for $805 million from real estate management firm Northwood Investors in May.

According to the reports, the group will finance the purchase with a joint fund worth 1 trillion won, established with the state-run National Pension Service in an effort to boost its mergers and acquisitions deals overseas.

If successful, Lotte will also be able to accelerate its expansion into the Vietnamese market, which accounts for 14 percent of the group’s total overseas sales.

Since first entering the country in 2008, its affiliates have come to run dozens of stores in Indonesia including 39 stores of supermarket chain Lotte Mart, one Lotte Department Store, 33 Lotteria fast-food restaurants and one duty-free shop in Jakarta.

By Park Han-na (hnpark@heraldcorp.com)