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Goodman holds groundbreaking ceremony at its first project in Beijing

Thursday, 24 November 2011

Goodman Group (Goodman or Group), the integrated property group which owns, develops and manages industrial space, today held a groundbreaking ceremony for the second phase of Goodman Beijing Airport Logistics Centre (GBALC), which is strategically located within the highly sought-after Beijing Airport Logistics Park.

Phase 2 of GBALC comprises three single-storey warehouses, with a combined gross lettable area of 30,860 sqm. Immediately adjacent to the Beijing Capital International Airport and about 25 km from the capital’s Central Business District, GBALC is close to the entrance of the Airport North Expressway and the 6th Ring Road, with convenient access to various highways connecting to other major cities. The second phase is expected to be completed by the end of August 2012.

The Group acquired the first phase of GBALC, previously known as Kangli Warehouse Facility, earlier this year, together with the 48,055 sqm of development land for the second phase. The first phase, comprising 10,700 sqm of warehouse facility, is currently leased to Bank of China.

Philip Pearce, Managing Director Greater China for Goodman commented, “We are very excited to commence our first development project in Beijing, one of the world’s fastest growing cities. With the increasing demand for international grade, high-efficiency warehouse space in the capital city, leasing enquiries have been strong since we acquired the facility earlier this year.”

The groundbreaking event was attended by more than 60 guests including government officials of Shunyi District and Beijing Airport Logistics Park, potential customers and Goodman representatives.

Mr Pearce said, “With the robust domestic distribution demand and tight supply, we see huge demand from domestic and foreign retailers and logistics operators in China, as well as other industries such as automotive, medical and electronics. We will continue to target more opportunities in the capital city and other inland cities including, Chengdu, Chongqing, Wuhan, Xi’an and Zhengzhou.”

Goodman is committed to growing its business further in Greater China, aiming to increase investments by ten-fold from the current RMB1.9 billion to RMB19 billion in the next five years. The Group has a number of other projects in the pipeline for the China market, with developments underway in Shanghai and Beijing, and advanced planning in Chengdu, Langfang and Suzhou.

Mr Pearce added, “China is a very important focus for the Goodman group, and we shall continue to invest capital, resources and know-how to support the growing need in this market for the expertise we have built up over the years globally.”

- Ends -

Besy Leung
Marketing Director, Asia
Tel + 852 2249 3149

Citigate Dewe Rogerson
Alphae Chen
Executive Director
Tel: +8621 6340 4186

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About Goodman Beijing Airport Logistics Centre

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