NWP’s ESG Approach and Initiatives Receive Global Recognition from IFC EDGE of World Bank
In today’s commercial real estate sector, the full focus is on ESG – reporting, compliance, and standards. Simply benchmarking and reporting on a company’s real estate assets is no longer enough as concerned stakeholders and stricter regulations reshape the playing field.
But while most companies rush to comply, Dhawal Doshi, Head of Research & ESG at NWP Property, is not concerned. Having already committed a large part of NWP’s portfolio, 16 shopping malls, to EDGE certification, Dhawal notes that going green is not just good for the environment, but also good for business. NWP Property was established in 2015 as a joint venture between Warburg Pincus and PT City Retail Developments Tbk (IDX: NIRO). The company is now the fastest-growing new-economy consumer infrastructure platform in Indonesia with the largest independent network of modern community-based shopping malls, as well as a growing pipeline of logistics distribution centers and warehouses. With a keen focus on sustainability, the company had its sights set on leading in this space from the outset. Today, NWP Property is leading the market in EDGE certification of retail malls in Indonesia.
NWP’s commitment to its ESG objectives of making a positive contribution to local communities was spearheaded by Dhawal and his team, who methodically deployed a thoughtful, data-driven approach to evaluate every development, acquisition, and operating asset regarding energy efficiencies against the cost and the impact of retrofitting these properties. The breadth and depth of diversity in NWP’s retail portfolio call for a specific, asset-centric approach considering various factors such as size, space, utility, and financial returns. As a result, sustainability considerations are integrated into NWP’s development, operation, and budgeting process. Overall, green business practices have proven themselves to make financial sense for NWP.
NWP PROPERTY OPENS THE PARK SEMARANG – LARGEST MALL IN TOWN – BRINGING WORLD-CLASS TENANTS
Semarang, March 16, 2023 – The Park Semarang, the largest shopping center in Semarang City with the widest range of high-quality tenants, was officially inaugurated by the Mayor of Semarang, Mrs. Hevearita G. Rahayu, on Thursday, March 16, 2023.
The Park Semarang is the 34th asset owned and operated by NWP Property, one of the largest shopping center developers in Indonesia, with a diversified portfolio of malls including The Park Sawangan, Cirebon Super Block (CSB), and Pejaten Mall in Java.
Occupying an exceptionally strategic location, The Park Semarang is located at Jalan Madukoro Raya, Blok E1 No. 10-11, Tawang Mas Village, West Semarang District, Semarang City. It provides convenient access to visitors throughout the city with its prime location on the main road connecting the Semarang city center with Ahmad Yani Airport.
“We are grateful to finally open The Park Semarang mall, long awaited by the people of the city. It is a landmark development bringing many popular national and international brands under one roof” said Teges Prita Soraya, Director of The Park Semarang Mall – PT Nirvana Wastu Jaya Pratama, a subsidiary of PT NWP Property.
The 4-storey modern mall is designed with international green-building standards on a land area of 27,000 m2 with a total Gross Floor Area (GFA) of 57,000 m2 and a total Net Leasable Area (NLA) of 37,000 m2. It provides parking capacity for ~1,200 motorcycles and ~1,000 cars.
The Park Semarang indulges visitors with more than 120 international, national, and local tenants. Some of them include Matahari Department Store, H&M, Lulu Hypermarket, Marks & Spencer, Mango, Cinema XXI, Fun World, Happy Time, Mega Sport Stations, Max Fashion, Minimal, Charles & Keith, Pedro, Levi’s, MOC, Manzone, Gingersnaps, Mothercare, ELC, Kidz Station, Mr.DIY, Frank & Co, The Palace, Birkenstock, Staccato, Sociolla, Marhen J, Pedro, Urban Republic, Puma, Adidas, New Era, Mr. DIY, Nobby, Debiuryn, Havaianas, Fit Flop, iBox, Samsung, and many more.
Visitors at the mall are also presented with a variety of culinary options from food and beverage (F&B) tenants such as Solaria, Pepper Lunch, Kimukatsu, Golden Lamian, Tong Tji Tea House, J.Co, Mako, and various other local culinary choices from Semarang’s Small and Medium Enterprises (SMEs).
“Currently we have achieved above 80% occupancy for tenants that have either opened or will open shortly. We are delighted to provide local Semarang entrepreneurs with the opportunity to stand alongside many national and international brands that operate tens or even hundreds of stores in Indonesia and worldwide. We continue with our commitment to serve the local community in every market that we operate in and are confident to make positive economic and social contributions to the city and region,” explained Teges.
Another First Shopping Mall in Town, NWP Property Opens Citimall Bontang, Its 33rdProperty in Indonesia
Bontang, 11 December 2022 – Inaugurated by Bontang Regent, Basri Rase, S.I.P, NWP Property opened its 33rd property, Citimall Bontang. Located in East Kalimantan Province, Citimall Bontang is the first and largest shopping mall in town, centrally situated along the city’s main road, Jenderal Soedirman Road. Citimall Bontang has a Gross Floor Area (GFA) of 16,526 m² and a Net Leasable Area (NLA) of 12,501 m², with a parking capacity of over 230 motorbikes and 320 cars.
Citimall Bontang is home to a diverse mix of national tenants, many of which have opened their first stores in the city. These include Matahari Department Store, Happy Time, Optik Seis, Bata, The Body Shop, Fore Coffee, Jiwa Toast & Jiwa Tea, Ichiban Sushi, Ta Wan, Samsung, Erafone, My Salon, Guardian, Everbest, and Cinema XXI.
Now Open: The Park Kendari, The Largest Shopping Mall in Southeast Sulawesi
Kendari, 8 December 2022 – Governor of Southeast Sulawesi, H. Ali Mazi, S.H. officially opened The Park Kendari, Southeast Sulawesi’s largest destination for shopping, entertainment and leisure. Conveniently located in the city’s central commercial district, the mall occupies a Gross Floor Area (GFA) of 38,380 m² and Net Leasable Area (NLA) of 26,161 m², and is the region’s newest home to a range of international, national and local tenants. The mall is also developed with international green-building certification standards, reflecting NWP’s commitment to sustainability.
The Park Kendari’s strong and diverse tenant mix consists of Matahari Department Store, Hypermart, Fun World, Kidzilla, Sports Station, Guardian, BNB, Urban Surf, Minimal, Manzone, MOC, Optik Seis, Optik Melawai, Erafone, Samsung and Digimap. Other tenants such as The Palace, Cinema XXI and H&M are expected to open shortly. The mall also has a variety of F&B options such as JCO, Mako, Solaria, Ichiban Sushi, Ta Wan, Ramen 1, and Fore Coffee. In addition to these national tenants, The Park Kendari hosts more than 15 diverse local fashion and F&B tenants, as well as a spa and wedding gallery, creating a true one stop shopping destination for all.