PT Nirvana Wastu Pratama, a infrastructure platform co-founded by Warburg-Pincus and led by CEO Timothy Daly; CRE Asia Pte. Ltd., a consolidated subsidiary of CRE, led by its president Tadahide Kameyama; and Bonny Setiawan, an Indonesian entrepreneur and experienced logistics professional, announced a joint venture to invest in modern, big-box logistics real estate in Indonesia.
Setiawan has been appointed as the CEO of the joint venture.
The venture has secured its first modern, pre-leased built-to-suit warehouse in Jakarta, which is expected to commence construction in the second half of the year.
“The supply of Indonesian warehouse space is meaningfully behind its industrial peers, such as China and Japan, who have 10–40 times the warehouse space per capita, respectively, compared to Indonesia,” said Timothy Daly, NWP Property's CEO and president director. “The durable megatrends driving the demand for holistic omni-commerce infrastructure will accele
