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GIC, Mega Manunggal to spend $1 bil on Indonesian warehouse

Bloomberg Published on Thu, Oct 20, 2016 / 4:53 PM GMT+8

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(Oct 20): Singapore sovereign wealth fund GIC and Indonesian warehouse provider PT Mega Manunggal Property are spending a total of $1 billion over the next three years in Southeast Asia’s biggest economy.

The companies formed Mega Khatulistiwa Properti, an investment company with over 115,000 sqm of total net leasable area, Mega Manunggal said in a statement to the Jakarta stock exchange on Thursday.

The transaction adds to recent real-estate deals by GIC, one of the biggest property investors.