TEMPO.CO, Jakarta - Two of Canada’s largest pension fund managers have agreed to partner with real estate logistics operator LOGOS to invest in Indonesia and Singapore’s warehouse sector.
The investment plan is a response to the high e-commerce potential and middle-class growth in the Southeast Asian market.
According to Reuters, Canada Pension Plan Investment Board (CPPIB)—the country’s number one, will invest an initial of US$200 million to acquire 48 percent of LOGOS Singapore Logistics Venture.
CPPIB is also committed to pay US$100 million for 48 percent stake in LOGOS Indonesia Logistics Venture, Reuters reported on Monday.
CPPIB has stated that the deal will be its first step in direct real estate investment in the two countries.
In addition to Indonesia and Singapore, LOGOS also operates in Australia and China.
REUTERS | ABDUL MALIK