NWP Property, CRE Asia form JV to develop big-box logistics in Indonesia
The joint venture has secured its first warehouse in Jakarta with construction expected to start in H2 2022
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
INDONESIAN consumer platform Nirvana Wastu Pratama (NWP Property), CRE Asia - a subsidiary of Japanese property firm CRE Inc - and Indonesia entrepreneur Bonny Setiawan have formed a joint venture (JV) to establish a big-box logistics platform in South-east Asia's largest economy.
The JV, which will be led by Setiawan as its chief executive officer, has secured its first warehouse in Jakarta, with construction expected to start in the second half of this year, said NWP Property and CRE Asia in a joint press statement on Tuesday (Mar 22).
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
