NWP Indonesia

active

 PT Nirvana Wastu Pratama Property (NWP or the Company, https://nwpproperty.com/), established in 2015, is a consumer infrastructure platform focused on retail and logistics properties in Indonesia. NWP currently has 53 properties (36 in operation and 17 under development), with a combined gross floor area (GFA) of 1.24 million square meters (sqm) upon completion. NWP has a strong presence across Indonesia including West Kalimantan, Central Kalimantan, South Sumatra, West Java, Central Java and Sulawesi, while projects under development include multiple sites in Kalimantan, Sumatra, Java and Sulawesi.NWP’s operating portfolio is comprised entirely of retail property. The Company is in the midst of an expansion into logistics distribution centers and micro fulfillment centers (MFCs). In March 2022, NWP established a logistics JV, Cella Management Logistics with CRE Inc., a Japanese real estate developer.The proposed IFC investment is an Indonesian Rupiah (IDR) 851 billion (US$53 million equivalent) loan financing package to various subsidiaries of NWP. The project will involve the refinancing of the following retail mall and a hotel asset (all together, will be referred to as “project assets”, going forward): - Greater Jakarta: DMall Depok, Hotel Santika Depok (121 rooms, operated by Santika Indonesia Hotels & Resorts), Kalibata City Square;- Sulawesi: The Park Kendari; - Kalimantan: Citimall in Pangkalan Bun, Sampit, and Ketapang.All the above project assets are already in operations and there is no additional construction activities or major rehabilitation/modification expected, except facility maintenance and minor renovations activities such as resource efficiency related enhancements including replacement or upgradation of chiller, water treatment systems etc.