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
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.
