Read about our new NWP CRE Logistics Joint Venture

Jakarta, March 22, 2022 — Today, PT Nirvana Wastu Pratama (“NWP Property”), Indonesia’s largest and fastest-growing New Economy enabled consumer infrastructure platform co-founded by Warburg-Pincus and led by its CEO Timothy Daly, CRE Asia Pte. Ltd. (“CRE Asia”), a consolidated subsidiary of CRE, Inc., led by its president Tadahide Kameyama, and Bonny Setiawan (“Mr. Setiawan”), an Indonesian entrepreneur and experienced logistics professional, announced to establish a joint venture (the “Venture”) to capture the booming opportunities in modern, big-box logistics real estate in Indonesia. Mr. Setiawan has been appointed as the CEO of the Venture.


NWP PROPERTY Adds Logistics and Changes Name to Reflect Platform Expansion

Jakarta –  NWP PROPERTY (formerly “NWP Retail”)  is adding logistics to complement its growing community-mall portfolio of over fifty assets located across Indonesia. To reflect this platform expansion, the company has changed its name from NWP Retail to NWP Property.

Since inception, NWP Property has grown rapidly to become one of Indonesia’s largest real estate platforms with its footprint expanded thirteenfold in six years, from four seed projects to over 50 projects today, covering over one million square meters of gross floor area (“GFA”).

NWP Property’s robust capabilities in scaling its “online to offline” (or “O2O”) consumer infrastructure platform enables both online commerce via its last-mile logistics facilities as well as offline purchases via the largest independent network of modern community-based shopping malls, combined with modern warehouse and distribution assets.

NWP has always had a multi-disciplinary approach to real estate in Indonesia, thus the opportunity to expand into logistics is a natural evolution for the company.  Over the last couple years, NWP’s retailer stakeholders have encouraged NWP to assist in providing a solution to their supply chain challenges, characterized by an insufficient supply of both modern logistics, high delivery costs, as well as evolving competitive dynamics.

To scale the platform, NWP will leverage its institutional capabilities, experienced management team, understanding of Indonesia’s real-estate sector, breadth and depth of retail tenant relationships, and proprietary insight into consumer consumption across markets in Indonesia.

Contact us for more details and discuss how we can collaborate in your journey.

Warburg Pincus-Backed NWP Property Appoints Adhy Wibisono as Chief Financial Officer

Jakarta, January 2022 – NWP Property (“NWP” or the “Company”), largest and fastest growing new economy institutional omni-commerce infrastructure platform co-founded by Warburg Pincus, today announced that it has appointed Adhy Wibisono as its Chief Financial Officer and Director. 

Adhy brings a wealth of expertise and experience, with more than 20 years in international finance, corporate governance, and commercial leadership in the US, Europe, and Asia.  Most recently as CFO of GoPay, Gojek’s digital financial services arm, Adhy was a key member of the management team that established and led the expansion of Gojek’s consumer financing business.  

Prior to GoPay, the Penn. State MBA graduate served as CFO of Combiphar, one of ASEAN’s leading healthcare companies, during its transformation into a consumer healthcare company. Previously based in the US and Europe, Adhy assumed commercial and financial leadership roles in thenprivate equity portfolio companies, The Hertz Corporation and inVentiv Health (now part of Syneos Health), where he was instrumental in driving operational improvements, facilitating the portfolio companies’ successful exits via IPO or merger. 

Mr. Timothy Daly, President Director and CEO of NWP, stated, “I am delighted to welcome Adhy to NWP’s senior leadership team. Adhy has a unique background and solid track-record in the industry. His appointment comes at a transformative time, as NWP redefines the state-of-the-art retail infrastructure in the fourth most populous country in the world.” 

On his appointment, Mr. Adhy Wibisono commented, “I am excited to join NWP at this critical juncture for the company, the industry, and Indonesia. Given the large market size, rising middle-class, favorable demographics, and the under-penetrated modern commercial real estate and digital infrastructure, Indonesia’s ‘online plus offline’ consumer ecosystem is poised to chart a new evolution. NWP is uniquely positioned to accelerate growth and benefit from these dynamics in the largest market in Southeast Asia, which is on track to becoming one of the top 10 global economies over the next decade.” 

NWP’s Citimall Cianjur 2 Officially Opened with Strict Health Protocol, Supporting Local Entrepreneurs, And Implementing Latest Online Plus Offline Application

Cianjur, 15 December 2021 – Regent of Cianjur, Mr. H. Herman Suherman officially opened Citimall Cianjur 2, which is the most complete modern shopping center in Cianjur Regency, on Wednesday, 15 December 2021.

It occupies a strategic location, right in the intersection of the main routes to Puncak, Jakarta, Sukabumi, and Bandung.

Cianjur 2 is modernly designed with a building height of 3 floors and 1 basement, with a GFA of 14,237 m2 and NLA of 9,669 m2, on a land area of ​​6,998 m2.

In managing and controlling the number of visitors entering the mall, Citimall Cianjur placed a number of automatic counters with Real Time People Counting technology at each entrance.

It has a diversified tenant rooster with a strong mix of national and international tenants such as Matahari Department Store, Gokana, Chatime, Kasoem Vision Care, The Body Shop, Ichiban Sushi, OB FIT, Guardian, Samsung, Oppo, L Beauty Salon and Ta Wan, Fore Coffee, Nobby, Erafone, Mi Store, Happy Time, and Cinema XXI.

Citimall Cianjur 2 also implemented TRILIO Super-App, which can be used to enjoy Free Wifi, Navigation while inside the mall, and interact with Virtual Customer Service through the Chat feature. Visitors can ask for all information about the mall, submit complaints and feedback, as well as shop online with ShopChat and Jastip services.

This Trilio application can also be used to buy tickets online for various offline events at Citimall, one of which is the Korean Wonderland event, which is taking place on the 2nd floor from December 15, 2021 to February 14, 2022.

NWP Continues to Expand in 2021 and Acquires Prime South-Jakarta Shopping Mall

Jakarta, April 2021: NWP announces the acquisition of Kalibata City Square, a prime shopping mall located in an in-fill residential area of South Jakarta. It is NWP’s newest acquisition project in 2021.

The 2-level mall serves as a retail mall component of a superblock consisting of ~13,500 apartment units and ~35,000 residents above the mall, surrounded by a captive catchment of 650,000 within 5-10 min drive time.

It has a diversified tenant rooster with a strong mix of national and international tenants such as Farmers Market, Ace Hardware, Mr DIY, Cinepolis, Gold’s Gym, Sports Station, Fun World, Ichiban Sushi etc.

With this acquisition, NWP expands presence and increases footprint in a key Tier-1 market of South-Jakarta.


As per September 2021, more than 32,000 people have been vaccinated at 15 NWP Malls throughout Indonesia, proving NWP’s strong commitment in supporting the nation’s fight against the spread of Covid-19   

As part of this vaccination drive, the following 15 NWP malls became Public Vaccination Centers: Citimall Sampit, Citimall Kuala Kapuas, Citimall Ketapang, Citimall Baturaja, Citimall Prabumulih, Citimall Cianjur, Citimall Sukabumi, Citimall Dumai, Citimall Cilegon, Citimall Gorontalo, Palu Grand Mall, Central Plaza Lampung, Pejaten Mall, CSB Mall Cirebon, and Kalibata City Mall Square.  

Participants in this vaccination drive include mall and tenant employees, as well as the general public from the surrounding area.   

We view our support for Public Vaccination Centers at our malls as a natural extension of our Corporate Social Responsibility, as all our malls stand ready to serve and make positive contributions to the local communities in which we operate.


NWP Retail opens a new shopping mall The Park Sawangan, in Depok, Greater Jakarta, on July 3rd, 2020.
Designed by renowned architecture firm, Callison RTKL, the mall has a total floor area (GFA) of 56,528 m2 and a leasable area (NLA) of 36,000 m2.
Located in a very strategic site, The Park Sawangan is in the middle of a major residential area of Sawangan and Bojongsari, passed by Jalan Raya Parung Ciputat, Kec. Bojongsari Kota Depok, which serves as a link between Depok, Tangerang, Bogor and Jakarta.
The mall is home to various international and national brands such as Uniqlo, H&M, Lulu Hypermarket, Ace Hardware, Informa, Matahari Department Store, Cinema XXI, Funworld, Toys Kingdom, The Body Shop, Fisik Sport, Erafone, Samsung, House of Towel, Batik Keris, Solaria, Marugame Udon, Samsung, Bakso Lapangan Tembak, Kokumi, Starbucks, Kopi Kenangan, Brunbrun and Chatime.
The mall has implemented various features and practices to prevent the spread of covid in addition to frequent deep cleaning and through disinfection. It includes Real Time People Counting, Touchless handwashing facilities, and Automatic temperature check technology at every mall entrance; Touchless elevators and water taps; Air Disinfection Device using UV-C wavelength installed in AHU to sterilize airborne viruses and bacteria throughout the mall, Automated UV Surface Disinfectant on every escalator handrail; Physical distancing markings across flooring, escalators and elevators; Trilio Super-App to facilitate pre-registration check-in, check-out, as well as to facilitate contact tracing; Touchless navigation with free Wi-Fi connectivity and Virtual Customer Service using Trilio.