Mitsubishi Electric announced on March 19 that it has secured a major vertical transportation order for Two Sudirman Jakarta, a large-scale mixed-use development in the heart of Indonesia's capital. The package includes 66 elevators and 30 escalators, all to be supplied through the company's Indonesian subsidiary, PT Mitsubishi Jaya Elevator and Escalator. The complex is scheduled to open at the end of 2028. Mitsubishi Electric also disclosed that a separate subsidiary, PT Mitsubishi Electric Indonesia, will supply 404 air-conditioning units and 38 hand dryers to the project, making this an integrated building systems win rather than a vertical transportation contract alone.
Two Sudirman Jakarta sits on one of Jakarta's most prominent commercial corridors. The development is a mixed-use complex combining office, retail, and hospitality functions in a high-density urban setting. A 96-unit vertical transportation package of this size positions the project among the largest single-building elevator and escalator orders in Southeast Asia in recent years. The scale reflects the continuing pace of high-rise and mixed-use construction across Indonesia's major cities, where rapid urbanization, a growing middle class, and foreign direct investment are fueling demand for large commercial developments.
Mitsubishi's Southeast Asia Strategy
The Two Sudirman win fits within a broader pattern of Mitsubishi Electric asserting itself more aggressively in markets outside Japan and China. The company has maintained a long-standing presence in Southeast Asia through local manufacturing and service subsidiaries, but recent moves suggest an acceleration. In November 2025, Mitsubishi Electric completed the acquisition of AG MELCO Elevator Co. in Dubai, converting a 50-year distribution and service partnership into a wholly owned subsidiary. That acquisition strengthened Mitsubishi's maintenance and renewal business across the Middle East. Combined with the Jakarta win, the company is building out a growth strategy that targets the fast-urbanizing markets of Southeast Asia and the Middle East while the Big Four focus much of their competitive energy on the KONE-TK Elevator merger dynamics reshaping the European and North American landscape.
Indonesia's elevator market specifically is benefiting from demographic and economic tailwinds that make it one of the most attractive growth markets in Asia-Pacific. The country has a population of approximately 280 million people, a median age under 30, and an urbanization rate that continues to climb. Jakarta, Surabaya, and other major cities are seeing sustained demand for commercial high-rises, transit-oriented developments, and mixed-use complexes that require large elevator and escalator packages. For OEMs with established local manufacturing and service operations, Indonesia offers both new installation volume and long-term service contract revenue as the installed base of modern equipment grows.
For the broader industry, Mitsubishi Electric's integrated approach on the Two Sudirman project, bundling elevators, escalators, HVAC, and building services into a single supplier relationship, reflects a trend among OEMs toward offering complete building solutions rather than competing on vertical transportation alone. As the global elevator market reaches $113.9 billion and the escalator market pushes toward $25.5 billion by 2030, the ability to cross-sell building systems alongside core VT products is becoming a meaningful competitive differentiator, particularly in large-scale projects where developers value simplified procurement and integrated commissioning.