Warehouse Rental Business in Indonesia Being Expanded23 October 19, 12:00 pm
Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo) is pursuing the warehouse leasing business via its Indonesian business company PT. Summitmas Property, and has recently completed construction of Warehouse No. 2 (hereinafter, “the Warehouse”) on the outskirts of Jakarta.
Situated in Bekasi Regency in West Java Province, about 40 kilometers east of central Jakarta, the Warehouse sits on a plot about 30,000 m2 in area and has a total floor space of about 21,000 m2. This large-scale rental warehouse project, like Warehouse No. 1 completed in July 2016, will be leased to the local subsidiary of Kao Corporation to meet that company’s demand for further business expansion.
Sumitomo Corporation has been engaged in the real estate business in Indonesia since the 1980s. It partnered with the local conglomerate PT. Rodamas to develop Summitmas I (total floor space of 28,000 m2), a high-rise office building in the heart of Jakarta’s business district, in 1985, and Summitmas II (total floor space of 32,000 m2) next door in 1992. By hiring Japanese construction companies and pursuing Japanese-style quality management methodologies, Sumitomo Corporation has succeeded in creating high-grade office spaces and attracting Japanese companies and other international corporations, and these projects have garnered a solid reputation over many long years as two of Indonesia’s leading buildings. A project to develop a third office building is currently underway.
Furthermore, Sumitomo Corporation participated in a condominium project in Bogor Regency in West Java Province in November 2017 and in a condominium development project in West Jakarta in March 2018. By putting to good use the know-how and experience it has cultivated locally to meet Indonesia’s future real estate needs that are rising alongside the country’s economic growth, Sumitomo Corporation will contribute to the development of local communities and lay the foundations for comfortable and exciting living.
■ Profile of PT Summitmas Property
Rodamas – 50%
|Description of business||:||Development, leasing and management of office buildings and warehouses in Indonesia|
[Exterior view of the Warehouse]
[Summitmas I (right), Summitmas II (left)]
■Sumitomo Corporation’s Material Issues
Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project especially contributes to “the Development of Local Communities and Industries” and “Establishing a Foundation for Comfortable and Enriching Lifestyles”.