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,Indonesia,June 21,2023 -- 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 inCikarang,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,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 androbust 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.