GIC in tie-up to develop logistics assets in Indonesia

Singapore

SINGAPORE'S sovereign wealth fund GIC has made its first foray into Indonesia's logistics sector through a partnership with that country's publicly listed logistics developer PT Mega Manunggal Property Tbk (MMP).

Under the partnership deal, they will develop a portfolio of quality logistics warehouses of up to 500,000 square metres of net leasable area (NLA) in Indonesia over the next three years, with a focus in the Greater Jakarta region and Greater Surabaya.

The partnership aims to meet the increasing demand by companies for sophisticated inventory systems which cannot be fulfilled…