Sumitomo Corp. to open consumer goods warehouse near Jakarta
JAKARTA, NNA – Japanese trading firm Sumitomo Corp. will open a warehouse near Jakarta on Nov. 1 as an investment in the Indonesian capital’s growing demand for consumer goods logistics.
PT. Summitmas Property, the corporation’s local real estate arm, has spent around 4 billion yen ($36.8 million) to build the 21,000-square-meter facility in the Jababeka Industrial Estate, some 40 kilometers east of the city. It will lease the space to a local unit of Japanese household products maker Kao Corp., the trader said in a statement Wednesday.
Sumitomo’s property arm also leased out another warehouse, its first in Indonesia and with a floor space of 53,000 sq. meters, to the Kao group. It’s located on the industrial park in West Java Province, the statement said.
Stronger purchasing power has helped Indonesia’s “fast-moving consumer goods” sector grow by double digits per year at some points after 2010, the consultancy Global Business Guide Indonesia says on its website.
Sumitomo has been worked in real estate in the Southeast Asian country since the 1980s by partnering with local conglomerate PT. Rodamas. It has developed two high-rise office buildings, Summitmas I in 1985 and Summitmas II in 1992, the statement said.
Sumitomo also participated on a condominium project in Bogor Regency, a Jakarta suburb, in 2017 and in another last year in west Jakarta.