NWP Property Acquires Prime Cold Storage Facility in Narogong, Greater Jakarta, Expanding its Logistics Footprint in Indonesia

Jakarta, November 21, 2024 – NWP Property, through its subsidiary Cella Management Logistics (“CML”), proudly announces the acquisition of a high-quality cold storage warehouse facility in Narogong, Bekasi, located in the eastern part of Greater Jakarta. This strategic acquisition marks CML’s entry into the rapidly growing Indonesian cold storage logistics market, which is under-served and has seen increasing demand, as the country’s modern logistics space continues to evolve.

The fully tenanted two-story facility comprises 5,232 sqm Net Leasable Area (“NLA”) and began operations in 2017. It is equipped with a high-quality cold engine system and supported with the following key features:

• • 10-meter clear height for efficient storage and operations
  • 4-ton-per-square-meter floor load capacity allowing multiple racking layers for cost optimization
  • 11 dock levelers for efficient loading and unloading operations
  • Approximately 7,200 pallet positions across 7 temperature-adjustable chambers (ranging from -25 to 10 degrees) that support freezer, chiller and ambient uses

Strategically located in Narogong, the facility provides convenient access to Jalan Raya Narogong, a key logistics route connecting Jakarta with major satellite cities like Depok and Bekasi. The newly opened highway entrance, situated just 7.0 km from the warehouse, will further enhance connectivity and reduce transportation times. This prime location is anticipated to attract daily consumer goods businesses and third-party logistics (3PL) companies specializing in temperature-sensitive products including fresh foods, dairy products and pharmaceuticals.

This acquisition solidifies CML’s rapid ascent to become one of the largest logistics players in Indonesia. Since its inception in March 2022, CML has grown rapidly with 210,000 sqm of high-quality warehouses under management across four assets. In addition to this recently acquired facility, CML is managing a fully operational 40,000 sqm BTS (Built-to-Suit) warehouse in Cikarang, as well as developing two additional multi-tenant warehouses in Cakung, East Jakarta and Narogong, West Java, both expected to open by 2025.

In March 2022, NWP Property, Indonesia’s leading consumer infrastructure platform with the country’s largest independent network of modern community-based shopping malls, launched a logistics platform via its subsidiary Cella Management Logistics in collaboration with CRE Inc., one of the largest logistics real estate management firms in Japan, and Mr. Bonny Setiawan, a stalwart of Indonesia’s modern logistics industry.

Since its inception in 2015 as a joint venture between Warburg Pincus and PT City Retail Developments, NWP Property has experienced rapid growth. Currently NWP Property has over 50 shopping malls and logistics assets in its portfolio totaling over 1 million square meters of gross floor area (“GFA”).

NWP Unveils a Stunning New Look for The Park Pejaten mall in South Jakarta with a Grand Celebration

On August 16th and 17th, 2024, NWP Property hosted a grand celebration to unveil the newly rebranded and revitalized The Park Pejaten mall in South Jakarta. This event marks the completion of an asset enhancement program extensive building renovations and interior design upgrades, transforming the mall into a modern, vibrant shopping destination at this iconic location.

Celebration of Transformation

The inaugural day of celebrations was a spectacular affair, attended by NWP Property leaders, key stakeholders, and thousands of excited visitors. The event kicked off with mesmerizing performances by Cirque De Sol, an international circus troupe from Russia, followed by an Indonesia Heritage Fashion Show and a captivating Mini Orchestra performance by Enfini Tunes. The second day kept the momentum with a lively performance by popular Indonesian music group Kahitna and a hilarious stand-up comedy act by Akbar Kobar. The two-day events enthralled attendees and generated excitement around the mall’s new look.

New Shopping Experience

The extensive renovations at The Park Pejaten have significantly enhanced the shopping experience, introducing a fresh and contemporary design that caters to modern shoppers. The revitalization included reimagined spaces and upgraded amenities that enhance the overall atmosphere, making it a more enjoyable and convenient place to shop, dine, and socialize.

Exciting New Tenants

The shopping experience at The Park Pejaten is set to improve even further with the introduction of many new tenants. These include Oh!Some, Dino Park, People’s Café, Sushi Ya, Sushi King, Solaria, and Imperial Dimsum, who will join the likes of Sociolla, Yakiniku Like, Pepper Lunch, Kimukatsu and Fun World Bowling, which have recently joined the mall. These additions will bring a diverse array of dining, shopping, and entertainment options to visitors.

Vision for the Future

Commenting on the relaunch, Mr. Kevin Kow, CEO and President Director of NWP Property, said, “We are thrilled to unveil the new look for The Park Pejaten, which showcases our commitment to improving our malls. This transformation is more than just a facelift; it’s a reimagination of how we connect with our community. With a fresh look, modern design, and attractive amenities, The Park Pejaten will be a vibrant hub that delivers an exceptional experience to both shoppers and tenants. We look forward to welcoming everyone at The Park Pejaten.”

NWP Property is one of Indonesia’s largest and fastest-growing consumer infrastructure platforms with exposure to community retail and logistics infrastructure. Since its inception in 2015 as a joint venture between Warburg Pincus and PT City Retail Developments, NWP Property has experienced rapid growth. Currently NWP Property has over 50 shopping malls and logistics assets in its portfolio totaling over 1 million square meters of gross floor area (“GFA”).

The Park Pejaten, previously known as Pejaten Village, was one of two retail assets acquired from LMIRT in 2020. It is an iconic asset located in a high-density residential area of South Jakarta with a retail GFA of ~62,000 sqm and retail NLA of ~41,000 sqm.

NWP Property Inaugurates Flagship Build-to-Suit Logistics Warehouse in Cikarang, Strategically Expanding Its New Logistics Platform

NWP Property, via its subsidiary Cella Management Logistics (“CML”), proudly announces the official opening of its first logistics warehouse development, a 40,000 sqm single-story BTS (Build-to-Suit) facility designed for a leading global logistics company. The project has been developed in two phases over a total land area of 54,500 sqm. This facility is expected to meet the increasing demand fueled by new economy growth drivers for the global client in Indonesia, South-East Asia’s largest economy and consumer market.

Located strategically within an established industrial area in Cikarang, Greater Jakarta, in West Java Province, the modern facility boasts state-of-the-art specifications including:

• Effective height of 14 meters to accommodate storage and operations efficiency.
• Floor load capacity of 4 tons per square meter with super-flat floor levelness to enable variety of storage needs.
• Equipped with an automatic sprinkler system to ensure firefighting safety.
• 20 dock levelers for efficient loading and unloading operations.
• Security system with 24-hour surveillance cameras and continuous in-house operation supported by utilities supply (water, electricity, and internet).
• Environmentally friendly and sustainable features such as lighting with motion sensors and solar panels.
• Green amenities including a green wall and a jogging track to enhance the property’s revitalized outlook.

In March 2022, NWP Property, Indonesia’s leading consumer infrastructure platform with the country’s largest independent network of modern community-focused shopping malls, launched a logistics platform via its subsidiary Cella Management Logistics in collaboration with CRE Inc., one of the largest logistics real estate management firms in Japan, and Mr. Bonny Setiawan, a stalwart of Indonesia’s modern logistics industry.

Since its inception, CML has grown rapidly, securing over 205,000 sqm of high-quality logistics warehouse facilities across three developments in strategic locations within Greater Jakarta. Currently, CML is developing two additional multi-tenant logistics facilities, including a two-story warehouse of approximately 100,000 sqm in Cakung, East Jakarta, and a single-story warehouse of approximately 65,000 sqm in Narogong, West Java, both expected to open by 2025. In addition, CML is constantly tracking potential acquisition of operating assets and is expecting to close several acquisitions imminently. In addition, CML is constantly tracking potential acquisition of operating assets and is expecting to close several acquisitions imminently.

Since its inception in 2015 as a joint venture between Warburg Pincus and PT City Retail Developments, NWP Property has experienced rapid growth. Currently, NWP Property has over 50 shopping malls and logistics assets in its portfolio, totaling over 1 million square meters of gross floor area (“GFA”).

NWP Property Welcomes Citimall Garut, its 30th Shopping Mall, in Garut, West Java, with >90% Occupancy

Citimall Garut, NWP Property’s 30th shopping mall, opened on March 20th, 2024, and has swiftly secured over 90% occupancy. Located about 60 km south of Bandung in Garut Regency, West Java, it is the first modern and comprehensive independent retail mall in the area.

The mall spans three levels with a Gross Floor Area (GFA) of approximately 24,000 square meters and a Net Lettable Area (NLA) of around 16,000 square meters. It features prominent national tenants such as Ace Hardware, Informa, KKV, Cinema XXI, Sociolla, Solaria, Sports Station, JCo, and Samsung, many of which are opening their first stores in this market. Citimall Garut also supports local tenants by providing them with a platform to showcase their creativity and talent.

Since its opening, the mall has hosted various entertainment attractions and events, including a Creative Market, Ramadan-themed events, Dino Jungle, competitions, and various performances, all of which have been well-received by the local community. Teges Prita Soraya, President Director of Citimall Garut, emphasized NWP’s commitment to serving the community with its new mall.

“We are thrilled to offer the Garut community a vibrant new shopping, recreation, dining, and entertainment experience at Citimall Garut. We invite all communities in Garut Regency to join us in revitalizing its local creative industry as we navigate the new post-pandemic phase. Citimall Garut will serve as a hub for various activities and collaborations between businesses and communities, fostering growth and creativity.” said Teges Prita Soraya.

NWP Property is one of Indonesia’s largest and fastest-growing consumer infrastructure platforms with exposure to community retail and logistics infrastructure. NWP Property’s portfolio of modern retail assets consists of the largest independent network of modern community-based shopping malls in Indonesia, while its growing logistics warehouses business is supported by New Economy demand growth drivers. Since its inception in 2015 as a joint venture between Warburg Pincus and PT City Retail Developments, NWP Property has experienced rapid growth. Currently NWP Property has over 50 shopping malls and logistics assets in its portfolio totaling over 1 million square meters of gross floor area (“GFA”).

NWP Property, Indonesia’s Leading Consumer Infrastructure Platform, Secures USD135 million Sustainability-linked Syndicated Loan led by CIMB Singapore

Singapore, 13 June 2024 – NWP Property (“NWP”), a leading consumer infrastructure platform in Indonesia, has secured its inaugural USD Sustainability-Linked Syndicated Loan Facility (“SLL”) of $135 million from a group of lenders led by CIMB Bank Singapore. This marks a significant milestone for NWP as they become the frontrunner in adopting sustainable practices within the commercial real estate sector in Indonesia. NWP owns and operates Indonesia’s largest green-certified commercial real-estate portfolio with 9 assets certified by IFC’s EDGE and 1 asset certified by Singapore BCA.

NWP launched its Sustainability-Linked Finance Framework earlier this year to align the company’s financing strategy with its mission to develop and operate a portfolio of sustainable and energy-efficient buildings. The SLL issued under this framework sets predefined sustainability targets for NWP, with the aim of improving the environmental impact of the assets in the portfolio. The SLL goes beyond green building certifications and focuses on broader sustainability goals, in line with the company’s ESG roadmap and targets for the next 3 to 5 years.

Mr. Dhawal Doshi, Head of Research & ESG at NWP, expressed his enthusiasm about this milestone and said, “The landmark SLL facility marks a pivotal point in our sustainability journey which started several years ago. Our methodical data driven approach to sustainability, meticulously built overtime, has received accolades from various key stakeholders in the industry. Sustainable financing from leading financial institutions is a strong recognition of our previous efforts and will propel the team to continue our sustainability journey.”

According to Mr. Nikolaus Dharmawan, Chief Financial Officer at NWP, “Sustainability has been a dominant theme over recent years. This landmark deal is one of the first of its kind for the commercial real-estate sector in Indonesia. Our associated framework and commitments in the facility highlight the increasing importance placed by the financial industry on credible and measurable sustainability practices in the real estate sector. We are thankful to CIMB and SGS for their trust and support.”

Mr. Victor Lee, CEO of CIMB Singapore, congratulated NWP and shared that, “As the lead bank and sustainability coordinator, CIMB Singapore is pleased to support NWP in their sustainability journey. This affirms our commitment towards creating value for our clients with solutions, practices and projects that foster sustainable development. We take pride in being the ‘go-to’ bank for our clients and businesses in ASEAN as they take steps to transition towards a more sustainable future.”

Ms. Priyanka Mehta, Head of Sustainability & ESG Services at SGS Singapore, emphasized the importance of NWP’s initiative in driving sustainability within the commercial real-estate sector, stating, “SGS is delighted to support NWP in this facility, which demonstrates the growing importance of sustainable finance in Southeast Asia. Our role as Second-Party Opinion provider ensures that NWP’s sustainability framework is robust, and aligned with international standards, providing confidence to CIMB and the wider market.”

NWP is setting a precedent for sustainability business practice in Indonesia. Its pioneering efforts in securing a Sustainability-Linked Loan Facility of this nature and scope underscore the growing importance of sustainability in the real estate landscape, signalling a shift towards more responsible and resilient business practices in Indonesia and beyond. This landmark collaboration between NWP, CIMB Singapore, and SGS Singapore paves the way for a more sustainable future in the region.

Note to editors:

If you would like to arrange a follow-up conversation, please feel free to reach out to:

Ms. Charlene Quah
Brand Communications & PR Lead,
CIMB Singapore
Mobile: +65 8812 2273
Email: charlenepy.quah@cimb.com

Ms. June Ye
PR & Corporate Communications Specialist, CIMB Singapore
Mobile: +65 9749 9285
Email: june.yeo@cimb.com

About CIMB Bank

CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM62.4 billion as of 31 December 2023. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in eight ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam, Myanmar and Philippines). Located in ASEAN’s global financial gateway, Singapore is one of our most important markets with approximately 1,000 employees serving over 500,000 customers with retail, commercial and wholesale banking products and solutions.

About NWP

NWP Property is one of Indonesia’s largest and fastest-growing consumer infrastructure platforms with exposure to community retail and logistics infrastructure. NWP Property’s portfolio of modern retail assets consists of the largest independent network of modern community-based shopping malls in Indonesia, while its growing logistics warehouses business is supported by New Economy demand growth drivers. Since its inception in 2015 as a joint venture between Warburg Pincus and PT City Retail Developments, NWP Property has experienced rapid growth. Currently NWP Property has over 50 shopping malls and logistics assets in its portfolio totaling over 1 million square meters of gross floor area (“GFA”).

About SGS

We are SGS – the world’s leading testing, inspection and certification company. We are recognized as the global benchmark for quality and integrity. Our 96,000 employees operate a network of 2,700 offices and laboratories, working together to enable a better, safer and more interconnected world.

Cahaya Power Indonesia and NWP Property Announce Partnership to Install Rooftop Solar Panels at Shopping Centers in Indonesia

Jakarta 31st May 2024 – PT Nirvana Wastu Pratama (“NWP”), a leading consumption infrastructure platform in Indonesia, has engaged PT Cahaya Power Indonesia (“CPI”), a subsidiary of PT ITM Bhinneka Power, to develop rooftop solar power plants at several NWP shopping malls.

NWP Property was established in 2015 as a joint venture between Warburg Pincus and PT City Retail Developments Tbk. The company has a large portfolio of over 50 community malls, logistics warehouses and hospitality assets. NWP’s assets are spread across 19 provinces in Indonesia, including Greater Jakarta, Java, Sumatra, Kalimantan, Sulawesi, and Bali.

CPI is a solar PV solution developer that supports commercial and industrial customers with clean and environmentally friendly energy resources. CPI aims to become a leading Indonesian green energy provider at the center of innovation, technology, inclusion, and sustainability. CPI believes in universal convenient access to renewable energy for achieving a net-zero future. By committing as a ‘Zero Investment Provider’, CPI promotes accessible sustainability, and offers superior service in renewable energy to all its clients.

NWP plans to roll out rooftop solar panels with CPI at The Park Sawangan (Depok, Greater Jakarta) and The Park Kendari (South-East Sulawesi) for Phase 1, and at Citimall shopping malls in Kalimantan for Phase 2. Plans for additional assets will be evaluated in subsequent phases.

The cooperation reflects NWP Property’s commitment towards promoting clean energy initiatives with the installation of rooftop solar panels of up to ~10-15 MWp at multiple assets across Indonesia. By generating and deploying clean energy of such capacity, NWP expects to reduce carbon emissions by ~500,000 tons of CO2, equivalent to carbon absorption by ~15,000,000 trees over 25 years.

“As the owner and operator of Indonesia’s largest green-certified commercial real-estate portfolio, we have embedded a strong culture of sustainability in NWP’s operations and are committed to constantly improving the company’s energy efficiency standards. We are pleased to cooperate with CPI as a trusted partner for installing rooftop solar panels at NWP malls. This agreement also highlights our commitment to support the Indonesian government’s clean energy target,” said Mr. Kevin Kow, President Director & CEO of NWP Property.

CPI will use the most advanced solar-based energy solutions in the industry while applying the highest safety standards, offering an estimated product life of up to 25 years.

CPI has extensive experience as a developer of solar power rooftops for commercial and industrial facilities. Since commencement of operations in 2022, CPI has booked a contracted capacity of ~20 MWp and is targeting an accumulated capacity of ~30 MWp in 2024. CPI has served various partners from multiple industries in Indonesia including F&B, Cement, Plastic, Chemical, Manufacturing and Energy.

“It is an honor for us to collaborate with NWP Property, one of the largest and fastest-growing retail mall and logistics warehouse developers in Indonesia. We have a high commitment to providing the best service for all our partners. With our solid experience, professional talent, and technology expertise, we are confident to provide our best solar-based clean energy solutions at NWP’s assets” said Mr. Kasidis Niamsiri, President Director of CPI.

Casion and NWP Property Launch Partnership to Build Electric Vehicle Charging Infrastructure in Greater Jakarta

Jakarta, 8 May 2024 – Casion, a leading electric vehicle (EV) charging station brand in Indonesia, and NWP Property, a leading consumption infrastructure platform in Indonesia, today officially launched their strategic partnership to build EV charging infrastructure in Greater Jakarta.

Casion and NWP Property will install dual EV charging stations at several strategic locations in Greater Jakarta , starting with The Park Sawangan, The Park Pejaten, and D’Mall. These dual EV charging stations will allow two electric vehicles to charge simultaneously, speeding up the charging process.

The partnership is part of Casion and NWP’s plan to expand the network of electric charging stations in Greater Jakarta, and with the future potential to be rolled out at other NWP assets in Java.

The launch of this strategic partnership is an important step in supporting Indonesia’s transition to sustainable energy and expanding environmentally friendly mobility infrastructure in the community.
“We are thrilled to launch this partnership with NWP Property. Our partnership testifies to our commitment to build EV charging infrastructure that is convenient and accessible for the people of Indonesia,” said Casion CEO, Kevin Pudjiadi.

NWP Property has also expressed their enthusiasm for this collaboration. “NWP owns and operates the largest green-certified commercial real-estate portfolio in Indonesia. We are committed to supporting Indonesia’s transition to sustainable energy and providing environmentally friendly facilities for visitors as well as the wider community. Our partnership with Casion allows us to build on our strong
sustainability credentials while aligning with Indonesia’s national objectives in accelerating its EV infrastructure roll-out,” added Kevin Kow, CEO & President Director of NWP Property.

For the new partnership with NWP Property, Casion will adopt advanced charging station technology, with 22 kW Wallbox AC type ABB EV chargers. The charger is user-friendly for installation and usage, while also offering high-quality security.

About Casion
Casion is a leading electric vehicle (EV) charging station brand in Indonesia. Casion provides safe, reliable and easy-to-use EV charging stations, equipped with the latest charging technology. Casion is
committed to building an extensive EV charging infrastructure that is easily accessible for all Indonesian people.

About NWP Property
NWP Property is one of the largest and fastest-growing consumer infrastructure platforms in Indonesia with exposure to community retail and logistics infrastructure. Since its inception in 2015 as a joint venture between Warburg Pincus and PT City Retail Developments, NWP Property has experienced rapid growth. Currently, NWP Property has over 50 shopping malls and logistics assets in its portfolio.

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 calls 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.

“While we are pleased to receive recognition from IFC for our ESG team’s diligent efforts over the past few years, our journey on this path still has a long way to go. We look forward to continue learning and implementing new measures in improving efficiency and sustainability of all our assets”.

Dhawal Doshi, Head of Research & ESG at NWP Property

In 2016, when Dhawal began his journey at NWP, he realized he had to make a strong case for green building certification. While sustainability already was a key focus of the company, ESG results were initially not captured under a separate category. As a result, the company was unable to fully implement or highlight its sustainability efforts. Given Dhawal’s background in economics, he understood the need to work and gather his most important tool – data – if he was going to convince anyone to go green. This data would be converted to the most important metric, cost effectiveness.

The existing, older facilities in the company’s portfolio offered some clear opportunities, notwithstanding the challenges in terms of collecting data and telling the cost savings story, as well as the substantial upfront costs. On the other hand, the opportunities for green-field development projects were less obvious, and required careful energy modeling, benchmarking, and potential cost-benefit analysis. By systematically creating a process to translate the potential energy-saving opportunities into cost and savings, Dhawal and the team was able to create a solid foundation to expedite the company’s sustainability journey. Furthermore, he was also able to quickly replicate the learnings from one project to other properties.

At The Park Sawangan, a green-field development project in South Jakarta, the team utilized energy modeling to replace the initial design of an oil-based chiller into a magnetic-bearing electric water-cooled chiller for the AC system. The team also identified and installed other equipment such as five variable-speed drives (VSDs), chiller plant control systems, scale cleaning system, as well as building outer envelope modification and efficient lighting to improve energy efficiency.

These changes resulted in improving energy efficiency by approximately 30 % as compared to the EDGE baseline and around 50 – 60% better compared to other malls in the portfolio. These strategies were subsequently implemented at four new green-field development assets, thereby becoming the de-facto baseline construction standard for future developments, such as Citimall Cianjur 2, The Park Semarang and The Park Kendari.

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 34^th 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.

NWP-backed Indonesian Logistics Platform Cella Management Logistics Breaks Ground on Two New Projects

• Cella was established in March 2022 as a strategic joint venture between Warburg Pincus-backed NWP Property, CRE Asia, and industry veteran Bonny Setiawan
• With the two new projects, Cella currently has three high-quality logistics projects with a total of over 200,000 sqm of net leasable area under construction to meet the robust demand for logistics
• The newly launched projects testify to the exceptional execution capabilities and position Cella as one of the fastest-growing logistics platforms in Indonesia
• Leveraging NWP Property’s strong new-economy consumer infrastructure platform in Indonesia, Cella is well-positioned to build the largest modern logistics portfolio in Indonesia

Jakarta, 21 June 2023 – Cella Management Logistics (“Cella”), an Indonesia-focused pureplay logistics real estate platform, announced the groundbreakings of two modern logistics projects in Indonesia – a two-storey facility in Cakung, East Jakarta, with close to 100,000 sqm of net leasable area (NLA) and a single-storey facility in Cileungsi, Bogor, with a close to 65,000 sqm NLA.

Both projects are strategically located in urban infill areas, which are highly sought-after by major tenant groups such as third-party logistics (3PL) companies, last-mile providers, and fast-moving consumer goods (FMCG) companies. Designed to provide tenants with maximum operational efficiency, the facilities will be built with high construction quality and sustainability standards targeting IFC’s affiliated EDGE certification, including a 12 to 14-meter clear ceiling height, an up to 4 tons per sqm floor loading capacity, and sustainability features such as solar panels and energy-efficient equipment.  Both projects have been partially pre-committed by leading customers, reflecting the strong underlying demand for high-grade modern logistics assets.

Apart from these two projects, Cella is also on track to complete its first logistics project in Q3, 2023.  Strategically located in Cikarang, West Java, the project features a state-of-the-art facility spanning a 40,000 sqm NLA, built-to-suit for DHL Supply Chain, the global market leader in contract logistics solutions.  With 14 meters in ceiling height and 4 tons per sqm of floor capacity, the facility will support DHL Supply Chain’s expansion in Indonesia, amidst the rapidly increasing e-commerce penetration and logistics activities in the country.

Cella was established in March 2022 as a strategic joint venture between Warburg Pincus-backed NWP Property, CRE Asia, and Bonny Setiawan to build a pure-play logistics real estate platform to serve the severely under-penetrated logistics real estate sector in Indonesia. Under the leadership of Bonny Setiawan as CEO, the best-in-class management team has over 17 years of industry experience and a proven track record with over 500,000 sqm of land transactions and 3250,000 sqm of logistics developments. Cella has emerged as a fast-growing player in Indonesia’s logistics real estate market as well as a trusted partner to its clients. With a strong local team of around 20 professionals, Cella has full in-house execution capabilities, ranging from land sourcing and development, to leasing, asset management, and property management. The team has built trusting relationship with key tenants across a wide range of industries and identified robust demand from the tenants.

Bonny Setiawan, CEO of Cella Management Logistics, said, “We are extremely pleased to break ground on the two projects. The ability to launch two projects within just a month is a testament to our exceptional execution capabilities as well as the significant market demand for high-grade modern logistics assets. With our highly experienced team and the strong backing of our blue-chip logistics real estate investors – CRE Asia and NWP Property, we are uniquely placed to deliver unparalleled warehousing solutions to meet the evolving demand of our clients.”

Kevin Kow, NWP Property’s CEO, said, “We are impressed by the strong business momentum and robust pipeline that Cella has built since its establishment and its commitment to excellence in its business pursuit. The three strategic projects under construction will cement Cella’s position as a key player in Indonesia’s logistics real estate market. Built on its vision to drive and redefine the industry and its deep experience in logistics real estate, we believe that Cella is poised to deliver continued growth and success in the years ahead. We are proud to see that together with Cella, NWP Property represents the largest consumer infrastructure business in Indonesia, giving us the scale to best serve our clients.”

Tadahide Kameyama, CRE’s President, commented that, “The modern logistics real estate market in Indonesia is severely underpenetrated, with its industrial peers China and Japan having 10 and 40 times the warehouse space per capita respectively, as compared to Indonesia. The significant growth driven by the expansion of demand from e-commerce, 3PLs, and FMCG tenants, will continue to bring tremendous growth opportunities to experienced and trusted players, like Cella. CRE is pleased to be partnering with Cella on this exciting journey.”

Cakung Modern Logistic Warehouse Groundbreaking Ceremony

Narogong Modern Logistic Warehouse Groundbreaking Ceremony

About Cella Management Logistics:

Cella Management Logistics is a warehouse development company dedicated to creating exceptional logistics spaces. The company was established in March 2022 as a joint venture between NWP Property and CRE Asia. With a highly experienced team boasting over 10 years of expertise and a remarkable track record of successful projects, the company focuses on delivering state-of-the-art facilities that cater to the evolving needs of businesses. Cella Management Logistics is committed to driving growth and providing innovative solutions to support the expansion of the logistics industry.

About NWP Property:

PT Nirvana Wastu Pratama (NWP Property) is one of Indonesia’s largest and fastest-growing new-economy consumer infrastructure platforms in Indonesia with exposure to community retail and logistics infrastructure. Since its inception in 2015 as a joint venture between Warburg Pincus and PT City Retail Developments, NWP Property has experienced rapid growth. As of June 2023, it manages 52 operating, under construction and under development projects across Indonesia, totaling ~1.24 million sqm of potential gross floor area.

About CRE Asia:

CRE Asia is a subsidiary of CRE Inc. (CRE), an established and largest independent industrial developer based out of Japan. Founded in 2009, CRE has established a strong presence in Japan, Singapore, and Thailand. CRE has also formed CRE Logistics REIT, a J-REIT which has 21 assets in its portfolio with a valuation of approximately JPY159 Bn as of April 2023.

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.

NWP Property Opens Its 31st Property, The First in Bondowoso Regency

Bondowoso, 28 October 2022 – NWP Property opened Citiplaza Bondowoso in the presence of Bondowoso Regent, Drs. K.H. Salwa Arifin, who officially inaugurated the shopping mall. Located in East Java Province, Citiplaza Bondowoso is the first modern shopping mall in the Regency, and is strategically situated on the main road connecting the city center. The mall has a Gross Floor Area (GFA) of 10,456 m² and a Net Leasable Area (NLA) of 7,769 m², with sufficient parking capacity of 200 cars and 200 motorbikes.

Citiplaza Bondowoso hosts a range of well-known national tenants, all of which have opened their first stores in the region at the mall. Our tenants include Matahari Department Store, Hyfresh Supermarket, Happy Time, Tong Tji, Kebab Turki Baba Rafi, Tea Break, Gramedia Exhibition, B-FIT, Gabino, Mr. DIY, My Salon and Cinepolis. Furthermore, NWP continues to offer strong support for local businesses by providing commercial space to several local entrepreneurs and F&B tenants at Citiplaza Bondowoso.

NWP Property Names Kevin Kow as CEO and President Director

Jakarta, September 2022 – NWP Property (“NWP” or “the Company”), Indonesia’s largest and fastest-growing omni-channel commerce infrastructure platform backed by Warburg Pincus, announced today that the Company has appointed Kevin Kow, previously NWP’s Chief Investment Officer, as the Company’s new CEO and President Director, effective immediately. Kow will succeed Timothy Daly, the previous CEO and President Director, who will become a Commissioner of the Board of NWP.

Kow brings a wealth of experience in the real estate and investment industry, previously representing Morgan Stanley and then CLSA as the Head of the Singapore & Southeast Asia in both firms. In the recent three years, he was the Chief Investment Officer at NWP, where he spearheaded the acquisition of 8 assets, comprising 7 shopping malls with a total net lettable area of over 140,000 square meters and a hotel. Kow was instrumental in the formation of NWP’s logistics business and its joint venture with CRE Asia, as well as the execution of the $150mm corporate facility arranged with Credit Suisse in 2020.

Commenting on his appointment, Kow says, “It is my privilege to lead NWP during its time of strategic evolution. NWP Property has grown tremendously, from 4 seed assets since its inception in 2015 to 52 assets today across the Indonesian archipelago. We recently expanded into the logistics sector, which reflects our commitment to the two major themes of consumption infrastructure – retail and logistics assets. I look forward to working closely with the experienced and talented management team as NWP embarks on its new phase of growth.”

With the appointment of Kevin Kow to the top leadership position, the newly re-configured property group, which recently added logistics business to its growing community retail mall portfolio base, will continue to pursue opportunities in modern institutional-grade assets serving the emerging middle-class.

Last month, NWP also appointed Bonny Setiawan as the CEO of NWP Logistics and Alphonzus Widjaja as the CEO of NWP Retail.

Widjaja is a leading veteran with over 20 years’ experience in the Indonesian real estate industry. Prior to joining NWP, he was the CEO of Retail and Hospitality division at Sinar Mas Land for over 9 years. He also served as Director and Chief Operating Officer at Agung Sedayu Group and as the General Manager at Pakuwon Group. Widjaja is currently the Chairman of APPBI, Indonesia’s shopping center association.

Setiawan brings extensive industry knowledge and an exceptional track record in the logistics real estate sector. He was highly regarded as the driving force behind the development of the modern logistics sector in Indonesia. Previously, he was the CEO at Mega Manunggal Property (MMP), one of the first modern publicly listed logistics players in the country. He was appointed the CEO of the logistics joint venture between NWP and CRE Asia, established in March 2022.

NWP Property’s In-House Legal Team Named One of Asia’s Top 15 NWP Scores Big in Asia’s Top Law Awards

JAKARTA May 18, 2022 — Today, NWP Property (“NWP”) is delighted to announce that its in-house legal team led by Dinasti Brian Harahap (Group General Counsel & Chief Legal Officer) has been named one of “Asia’s Top 15 In-House Teams for 2022” by Asian Legal Business (“ALB”).

ALB selects in-house teams for this commendation based on notable work, innovation, contribution to the overall business, as well as other factors which recognize the exceptional performance of private practitioners and in-house counsels throughout Asia.

Before joining NWP, Mr. Harahap spent a decade in private practice with international magic circle firm Clifford Chance, both in its Singapore office as well as its affiliated Jakarta Office, Linda Widyati & Partners. Prior to that, he started his legal career at ABNR Counsellors at Law, in Jakarta. Mr. Harahap’s practice areas are in Real Estate, Inbound and Outbound Investments, Cross Border Transactions, Corporate and M&A, Financing, and Aviation.

In 2020, Mr. Harahap was nominated as a finalist of ALB’s In-House Counsel of the Year Indonesia law awards, and in 2021 was also listed in ALB’s annual list of Indonesia’s Rising Stars.

In other legal recognition kudos, NWP has been nominated as finalist in two categories at ALB’s Prestigious 2022 South-East Asia Law Awards.

As a finalist for the “Construction and Real Estate In-House Team of the Year Award”, NWP is joined in this coveted list by leading global and regional real-estate consultancies, and prestigious real estate owners and developers.

In another award category, NWP’s Senior Legal Counsel T. Anggrasyah Reza was shortlisted as a finalist in the “Young Lawyer of the Year (In-House) Award” category, joined by the region’s next generation of legal leaders, including those from global and regional digital, banking, communications and consumer brand companies.

Mr. Reza joined NWP from a private practice background in 2019 and is an in-house counsel with over 12 years of experience, proficient in handling M&A transactions, with extensive knowledge in Real Estate, Inbound Foreign Investment & Corporate Matters, Digital Commerce and Data Privacy.

Mr. Harahap added, “These commendations are testimony to NWP Property’s best-in-class management team comprised of industry-leading experts from Indonesia and around the world, as well as our legal colleagues within NWP. We are honored to be recognized by our peers and colleagues in the legal industry.”

Asian Legal Business (ALB) is owned by Thomson Reuters, the world’s leading source of intelligent information for business and professionals. With its portfolio of leading titles, law awards, in-house legal summits and online services, ALB provides authoritative and unbiased insights and unmatched networking and business development opportunities to legal professionals throughout the Asia-Pacific.

The ALB Law Awards are the pre-eminent legal awards in Asia-Pacific, held annually in Hong Kong, Singapore, Japan, Korea, Malaysia, Indonesia, India, the Philippines and China. The Awards are comprised of months of intensive research and culminate in a black-tie Awards Ceremony in each of the markets.

NWP Property Group Launches Augmented Reality Powered Experiences at Leading Malls

Latest Online + Offline Innovation from NWP and Trilio Super App

Jakarta, April 18, 2022 — Today, NWP Property Group (NWP) announces the launch of Augmented Reality (AR) powered experiences at selected malls, in collaboration with industry leading Trilio Super-App (Trilio), a first for any retail venue in Indonesia.

In one experience, Trilio members become “Token Hunters”.  Using social media clues, members search for hidden secret tag locations throughout participating malls. Upon discovering a secret tag, the Trilio member can unlock the token, which is automatically transferred to the member’s account.  Tokens can be redeemed for various rewards ranging from Rp. 50.000 cashback to free food and drink menus at the participating mall restaurants.

In another experience launched at The Park Sawangan, Trilio members can try to “Catch a Holiday Bonus”.   Using Trilio, members can see a stream of envelopes cascading from the ceiling of The Park  Sawangan.  If a member “catches” a special holiday envelope without touching any of the others, they are rewarded and a QR code sent to their account, which can be immediately redeemed for various on-mall perks.

“We are committed to delivering fun and safe online plus offline experiences to our members and retail guests, as well as driving and supporting innovation for the growing Indonesian retail market and the local communities our malls serve.” commented Melanie Alshab, COO of NWP Property Group.