JAKARTA: Astra’s property business line (“Astra Property”), through PT Saka Industrial Arjaya ("SIA"), has now completed the acquisition of a majority stake in PT Mega Manunggal Property Tbk ("MMP"), an industrial and logistics property development company listed on the Indonesia Stock Exchange. As a result of the acquisition, SIA holds 83.67% stake in MMP and will carry out a Mandatory Tender Offer in accordance with the Indonesian capital market regulations. 

The transaction was completed at a purchase price of Rp580.6 per share. This acquisition aligns with Astra Group’s strategy to develop its industrial and logistics infrastructure business sector, particularly in modern warehouse, as a new source of growth, as well as a significant step in expanding its presence in sector that has strong potential growth. Driven by strong demand from logistics, e-commerce, FMCG and manufacturing sectors, the warehouse demand is poised to deliver resilient growth over time.

With MMP’s proven track record in warehouse management and development, Astra Property’s network and extensive synergy with Astra Group, this transaction is expected to further strengthen position of Astra Property in Indonesia's rapidly expanding industrial and logistics infrastructure sector. 

MMP group currently operates 13 warehouses strategically located across key industrial hubs and infrastructure in Greater Jakarta and Surabaya, with approximately 546,000 sqm of net leasable area. These properties are occupied by tenants from a wide range of sectors, including e-commerce, FMCG and third-party logistics. In addition, MMP group has approximately 45 hectares landbanks across Greater Jakarta and Surabaya that are earmarked for future development. MMP is therefore expected to provide both a recurring income stream and an asset base that would enable it to pursue capital recycling and funds management for third party capital in future. 

Wibowo Muljono, President Director of Astra Property, stated, "This acquisition marks a strategic step in Astra Property’s expansion into industrial and logistics infrastructure sector. Guided by our long-term strategic vision, we are committed to developing a modern, efficient and sustainable ecosystem.”

Prior to acquiring MMP, as part of its strategy to expand in the industrial and logistics infrastructure sector, in March 2025, Astra Property partnered with ESR, which is an Asia-focused real estate investor and manager, to acquire two warehouses located in GIIC and KITIC, known as Cikarang Logistics Park 1 and 2. The properties span 17.3 hectares with a total net leasable area of 108,000 sqm, and are fully tenanted.

The completion of this acquisition marks an important milestone for Astra Property, reinforcing its commitment to delivering sustainable added value for stakeholders and making a meaningful contribution to Indonesia’s economic growth.