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Goodman officially opens its China flagship development, with a 71% pre-commitment, and announces acquisition of 76,425 sqm facility in Waigaoqiao, Shanghai

Thursday, 25 October 2012

Goodman Group (“Goodman” or “the Group”), the integrated property group which owns, develops and manages industrial space, today officially opened its China flagship development, Goodman Pudong International Airport Logistics Park in Shanghai. The first phase of the development was 71% pre-leased prior to reaching practical completion in July, with Goodman recently commencing construction of the second phase amid strong demand for prime logistics space.

The first phase of Goodman Pudong International Airport Logistics Park has been constructed on a 39,500 sqm site, with a total GLA of 43,000 sqm and has attracted pre stigious customers including, Kuehne+Nagel, a leading international logistics provider; Riche mont, one of the world’s largest luxury goods groups; and Ferrari Logistics, an international logistics provider for high-end products.

Construction of the 56,000 sqm second phase of development at Goodman Pudong International Airport Logistics Park has now commenced and will be completed in the fourth quarter of 2013. When fully developed, the park will provide approximately 200,000 sqm of high quality warehouse space, with an end value in excess of US$170 million.

Philip Pearce, Managing Director Greater China for Goodman, said, “We are very pleased with the take-up rate at all of our properties and with the prevailing under supply of prime quality logistics space in China, we are well positioned to meet the exceptionally strong demand from our customers. Of particular note has been the growing demand from luxury goods providers and online retailers, reflecting the robust domestic consumption in China. W e remain confident of China’s growth outlook and will continue to invest in both development projects and existing facilities.”

In line with this, Goodman China Logistics Holdings (“GCLH”), a Goodman managed fund, has recently acquired a two-storey ramp-up warehousing facility in Waigaoqiao Free Trade Zone, Shanghai, to facilitate the ongoing expansion of its footprint in the Yangtze River Delta. Built on a site area of approximately 75,000 sqm, the facility provides a total GLA of 76,425 sqm of warehousing space. The facility is 100% leased to major third party logistic s providers including DHL, CEVA Loigistics and UTI.

The facility is located within Waigaoqiao Free Trade Zone, China’s largest and most established free trade zone and the only logistics hub located within Shanghai’s outer ri ng road. It enjoys convenient access and a well-developed transportation network of express ways, ports, airports and railway. It is located 5 km from Waigaoqiao port, 35 km from Shanghai Pudong International Airport and 30 km from downtown Shanghai.

Mr Pearce said, “Our latest acquisition is significant to the ongoing expansion of our portfolio in the Yangtze River Delta, as the Waigaoqiao Free Trade Zone is one of the most sought after locations in Shanghai, with very limited new supply due to a scarcity of industrial land. Its excellent strategic location and a favourable import tax policy make it the preferred location for distribution centres of high-value goods, while it is also set to benefit from the strong domestic consumption from the increasingly affluent Chinese middle class.”

Goodman currently has over 480,000 sqm of developments in progress in mainland China and a target development of 800,000 sqm in the next 12 months.

Mr Pearce added, “Driven by our rapid expansion, we now have more than 50 local staff on the ground in mainland China. Our global network and experience combined with our local knowledge, enables us to deliver the quality products and service which our clients are accustomed to all over the world.”

-  ENDS - 

For further information, please contact:

Besy Leung
Marketing Director, Asia
Tel + 852 2249 3149 / 6111 9452

Citigate Dewe Rogerson
Jasmine Yap
Co-Managing Director
Tel +852 3103 0108/9325 3363

Ricky Tam
Tel +852 3103 0118/6605 9808

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About Goodman Pudong Airport Logistics Park

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