INA, ESR and Mitsubishi Corp. form logistics JV
The Indonesia Investment Authority (INA), ESR Group and MC Urban Development Indonesia (MCUDI), a wholly owned subsidiary of Mitsubishi Corp, have formed a strategic partnership to invest in three modern logistics parks in Indonesia developed and managed by ESR.
This venture is the sovereign wealth fund’s first investment in the real estate asset class and MCUDI’s first logistics development in Indonesia.
“Today marks a significant milestone for INA as we venture into the real estate asset class with a strong focus on Indonesia’s modern warehouse facilities. We recognize the immense potential of the logistics market, spurred by the robust growth of the ecommerce, 3PL and automotive industries in our region,” said Ridha Wirakusumah, CEO of INA, in a statement. “Our strategic partnership with ESR and MCUDI not only aims to meet the evolving needs of the logistics industry but also reflects INA’s commitment to sustainable development and economic growth. By