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Goodman holds groundbreaking ceremony at its Jinxi site in Kunshan

Tuesday, 22 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 Goodman Jinxi Logistics Centre in Kunshan, a highly sought-after destination for logistics providers due to its proximity and connectivity to Shanghai and Suzhou.

Located within the Jinxi Eco-Industrial Park, Goodman Jinxi Logistics Centre will provide a total of 74,200 sqm of prime logistics space. The development is expected to have a completion value in excess of RMB200 million.

The first phase of the development, scheduled for completion in August 2012, will be a 46,700 sqm build-to-suit facility pre-leased to an international third party logistics provider.

Philip Pearce, Managing Director Greater China for Goodman, commented, “This development marks our second project in Kunshan, where high quality logistics facilities are in demand due to its strategic location. This project is also a testament to the trust that one of our global customers has in our ability to deliver bespoke real estate solutions that meet industry-specific requirements.”

The second phase comprising 27,500 sqm of prime logistics space is available for lease, offering units ranging from 4,800 sqm to 5,400 sqm.

Mr Pearce said, “Many of our customers have already shown interest in the second phase of the development. There is a shortage in the supply of high quality, efficient and modern logistics space in China, and with our strong track record and global experience, Goodman is well positioned to meet that rising demand.”

The groundbreaking ceremony was attended by more than 100 guests including government officials of Kunshan, potential customers and Goodman representatives.

In May 2011, the Group completed its first development in Kunshan. The 38,000 sqm Goodman Lujia Logistics Centre is currently over 80% leased to two major customers, Suzhou Xinli Logistics and Shanghai Benchmark Warehousing & Logistics, who have committed to 19,000 sqm and 12,000 sqm respectively.

The Group has recently acquired a site at Yushan, comprising 53,000 sqm of development land and a 26,000 sqm warehouse, which is fully leased. Goodman is planning to develop two more warehouses on the site, providing a combined 34,300 sqm of additional prime logistics space. Construction is expected to commence early next year.

Goodman has a number of other projects in the pipeline for the China market and aims to increase its investment in China ten-fold, from the current RMB1.9 billion to RMB19 billion within five years. It will target key inland cities such as Chengdu, Chongqing, Wuhan, Xi’an and Zhengzhou.

Mr Pearce added, “Strategically, Greater China continues to be very important to Goodman and we aim to commit significant resources here in the near future. We currently have developments underway in Shanghai and Beijing, with advanced planning in Chengdu, Langfang and Suzhou. We are also in due diligence on the acquisition of completed facilities and land parcels to expand our presence across the country.”

- 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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