ESR and PT MC Urban Development Indonesia (MCUDI), a wholly owned subsidiary of Mitsubishi Corp., have entered into a joint development agreement to develop two institutional-grade logistics and industrial facilities in Greater Jakarta.
The partnership will develop two class A logistics and industrial facilities in Karawang and Cikarang, two of Indonesia’s most established and in-demand industrial submarkets, with a total expected asset value of more than $80 million. Leveraging their respective strengths, the partners aim to maximize asset value. Construction has started, with completion targeted for the third quarter 2027.
This marks the second phase of ESR and MCUDI’s broader strategic partnership in the country and builds on the successful delivery and leasing of three earlier projects — Karawang Logistics Park 1, and Cikarang Logistics Parks 1 and 2 — collectively demonstrating strong custom
