Formed in 2015, NWP Retail is a joint venture between Warburg Pincus and PT City Retail Developments Tbk (NIRO), formed to build and develop a best-in-class retail platform in Indonesia. The Venture focuses on developing multi-tenanted modern shopping malls in Indonesia to capitalize on the country’s significant growth potential which is driven by rapid urbanization, emerging middle-class consumption and outsized economic expansion.
This strategic partnership is founded on a common vision to expand NWP Retail’s footprint across high potential areas for retail development throughout Indonesia.
With rising middle class, favorable demographics and increasing urbanization, along with a large population base, Indonesia presents significant opportunities for growth of the retail industry. The opportunity to create a strong institutional-grade retail-real estate portfolio is also supported by the fact that Indonesia lacks an adequate supply of modern and investment-grade retail stock, as well as national level developers focused on producing such assets. At the same time, tenants at all levels continue to expand throughout the country, which leads to a gap in adequate retail supply.
In addition to working with national and international level tenants, a significant part of NWP Retail’s business model is also providing innovative space and concepts for local businesses. With the development of modern retail space and concept, NWP Retail provides opportunities for local residents and businesses to experience and engage in modern trade, and encouraging micro businesses to flourish in a modern environment non-existent in the market before. Our success is determined not only by opening stores, but also by ensuring the long-term operation and sustainability of the asset, delivering value for all stakeholders including investors, tenants, partners, and the local community.
NWP Retail partners with experienced leaders both locally and internationally to direct and implement the company’s growth strategy. In line with our mission to create sustainable best-in-class retail assets, we strive to hire, train and retain the best talent in the field.
Environmental, Social and Governance (ESG) considerations are integrated into the policies and principles that govern our business and reflect our commitment to sustainable growth. At NWP, we believe that a corporate culture based on dedicated ESG considerations provides a strong foundation for long-term balanced growth.
Our approach to ESG management includes having robust monitoring systems and controls; striving to support and serve our tenant partners and shoppers; investing in our employees while cultivating a diverse and inclusive work environment; and contributing to the resiliency of the communities in which we operate. Data driven decision making is central to our holistic management approach.
We aim to develop, manage, operate and own state-of-the-art Commercial Real Estate (CRE) facilities for modern commerce, contributing to the growth of middle-class lifestyles. We seek to support and accelerate the development of integrated modern-day economic and social advances driving the region, acting beyond the rule of “doing less harm”, and seizing opportunities to create a positive impact.
We strive for continuous improvement in the execution of our ESG values as they underpin the long-term success of our company and our ability to deliver community and stakeholder value.
PORTFOLIO & DEVELOPMENT PROJECTS
NWP Retail has a strong and growing presence across Indonesia. Its shopping malls can currently be found in West Kalimantan, Central Kalimantan, South Sumatra, West Java and Central Java, while upcoming projects include multiple sites in Kalimantan, Sumatra, Java and Sulawesi.