Tend To Stable, Astra Property Geber Expansion Of Warehousing Business This Year

President Director of Astra Property Wibowo Muljono (rightmost). Photo: Theresia Agatha/VOI

JAKARTA - Astra Property admits that the company's expansion into the logistics warehousing business is promising at this time.

Astra Property President Director Wibowo Muljono explained that the warehousing business tends to be stable even in the midst of the turmoil in economic dynamics.

"We have now started to monitor the industrial market. From the supply side, this industry continues to increase, so we also see that the occupancy is stable," Wibowo said at the Astra Media Day 2025 event in Jakarta, Tuesday, September 23.

"In our opinion, this is a promising market, which in terms of occupancy is not too volatile, but still high," he continued.

Currently, Astra Property has developed two warehousing projects located in Cikarang Logistic Park 1&2 and Cibinong Modern House. The two projects collaborate with ESR Logos.

The plan is for Astra Property to also look at special economic zones (SEZs) that already have strong demand to develop logistics warehousing in the future. One of them is the Kendal SEZ which is considered close to the Semarang industrial area.

"So, for this logistics, we see that it will be better for the real estate business, the modern warehousing itself," he explained.

Currently, Astra Property has nine business portfolios, including office businesses, retail, hotels to landed houses.

Several Astra Property business portfolios in the commercial sector, namely Astra Tower, The Arumaya Office, Mandarin Orental Hotel to Resta Pendopo located on the Trans Java Toll Road towards Semarang Solo.

Meanwhile, the portfolio of Astra Property residential properties, including Anandamaya Residence, Asya, Arumaya Residence, Ammia Ecofirest, and Altea Blvd.