Nirvana Wastu Pratama (NWP Property), a Warburg Pincus-affiliated company, has formed a platform to build big-box logistics real estate in Indonesia, with a Japanese logistics firm CRE.
The venture would be headed by Bonny Setiawan as CEO.
Setiawan said: “There is a significant opportunity to develop high-quality logistics assets to serve the growing demand from companies involved ecommerce and FMCG (fast-moving consumer goods) operators.”
Warburg Pincus established NWP Property in 2015 with Indonesian company PT City Retail Developments to service the emerging ecommerce market in Indonesia.
NWP Property has expanded its footprint by 13-fold over the six years, from four seed projects to more than 50 projects today.
Timothy Daly, NWP Property’s CEO and president director, said: “The supply of Indonesian warehouse space is meaningfully behind its industrial peers, such as China and Japan, which have 10 times to 40 times respectively the warehouse space per capita of Indonesia.“
Tadahide Kameyama, CRE’s president, said he looked forward to working with NWP Property and Warburg Pincus to expand his group’s operations in Indonesia.
The company is currently developing 11 logistics facilities in Japan. In ASEAN, CRE entered Indonesia last year, its fourth country in Asia following Singapore, Thailand and Vietnam.
To read the latest edition of the latest IPE Real Assets magazine click here.
