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Goodman's Hong Kong portfolio maintains near full occupancy for third consecutive quarter

Thursday, 03 May 2012

Goodman Group (Goodman or Group), the integrated property group which owns, develops and manages industrial space, is pleased to announce that its Hong Kong property portfolio has achieved near full occupancy of 99.3% for the third consecutive quarter at the end of March 2012 quarter.

March quarter highlights include:
  • Over one million sq ft of leasing transactions were completed, including new leases and renewals
  • At  the end of the quarter, the portfolio had only 79,000 sq ft of space available for lease

Mr Philip Pearce, Goodman’s Managing Director, Greater China said,  “We are extremely pleased to have maintained such strong occupancy in Hong Kong. This reflects the prevailing wide gap between demand and supply of prime industrial space in the city, which has been evident over the past few quarters.”

During the March quarter, 1,036,510 sq ft of leasing transactions, comprising new leases and renewals, were completed. The new leases include an international cosmetics brand committing to two floors at Global Gateway.  In addition, a number of existing third party logistics providers secured more space within the Goodman portfolio as they expanded their operations in Hong Kong.

The limited 79,000 sq ft of space available for lease at the end of the quarter, represents just 0.7% of the stabilised properties in Goodman’s Hong Kong portfolio.

Mr Pearce said, “It is very encouraging that our customers continue to look to us for space as they plan the expansion of their business activities in Hong Kong. We maintain a positive view on the logistics market and the economy, and will continue to seek opportunities to grow our portfolio in the city.”

- Ends -

For further information, please contact:

Besy Leung
Marketing Director, Asia
Tel + 852 2249 3149

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

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