NWP RETAIL APPOINTS KEVIN KOW AS CHIEF INVESTMENT OFFICER
New Hire Strengthens Leadership Team and Accelerates Retail Real Estate Expansion Across Indonesia
NWP Retail, one of the largest and fastest-growing retail real estate platforms in Indonesia, which includes co-founder Warburg Pincus as its largest shareholder, announced today that Kevin Kow has been appointed as Chief Investment Officer in Indonesia. Kow joins the NWP Retail leadership team after a successful career in real estate private equity in Asia.
Kow was an 11-year stalwart in Morgan Stanley’s Real Estate Investing team, last serving as Head of Singapore, spearheading investment strategies across Southeast Asia. He subsequently joined CLSA Real Estate, where he also served as Head of Singapore and Southeast Asia. Over his career, he has closed over USD 2.5 billion of transactions.
Timothy Daly, President Director and CEO of NWP Retail, stated “I am delighted to welcome Kevin to our leadership team, as we continue to expand our business across the archipelago. Kevin brings a stellar track record of deal making and real estate transactions across Asia Pacific, and we look forward to leveraging Kevin’s experience to enhance our investment strategy and efforts in Indonesia.”
Kow is firm in his conviction. “The investment thesis into Indonesia retail is undeniable – a fast growing middle class and increased consumption in the world’s 4th most populous country. NWP Retail’s portfolio includes Tier 1 assets and extends into Tier 2 and 3 cities, which directly benefit from improved household spending power. These are cities whose next phase of maturity naturally creates a higher demand for brick and mortar retail malls.”
“From a supply perspective, the market is highly fragmented and under-served. Many cities are still without modern mall formats. We have developed new malls and from the swift take up from tenants and shoppers, we have seen proof of the strength of demand,” said Kow.
“While the Indonesian retail potential may be evident, there are few groups capable of unlocking it. NWP Retail’s management team, with Timothy Daly and Melanie Alshab in particular (both former executives at Simon Property Group), have a tremendous track record, not just in retail globally, but also particularly in developing economies,” he said. “On top of that, we’ve got Warburg Pincus, a sophisticated US private equity fund as a sponsor backing NWP Retail in Indonesia. Not only does Warburg Pincus believe in Indonesia and back us with capital, their expertise acts as a catalyst to accelerate the company’s growth trajectory.”
“The partnership between NWP Retail, Warburg Pincus and its shareholders is extremely powerful and I’m excited to join. My role is to lead NWP’s investment strategy across Indonesia and help the firm improve the overall retail landscape,” said Kow.
Since inception, NWP Retail has grown rapidly to become one of Indonesia’s largest real estate platforms, with a portfolio of 33 projects covering approximately 800,000 square meters of gross floor area (“GFA”). The platform has expanded its footprint by eight-fold in three years, from four seed projects to 33 projects today.