Australia-based Goodman Group has acquired an industrial site in Hong Kong for HK2.75bn (鈧�292m).
Goodman won the tender on behalf of its wholesale fund, the Goodman Hong Kong Logistics Partnership (GHKLP), following a tender process conducted by the Hong Kong Lands Department.
Kristoffer Harvey, Chief Executive Officer Greater China at Goodman Group, said: 鈥淭he opportunity to acquire such a strategically-located logistics land site is rare in Hong Kong.鈥�
Harvey said the acquisition will enable the group to capitalise on the continued strength of the logistics market.
Goodman is unable to meet pent-up customer demand within its fully occupied existing portfolio, he said.
The logistics giant plans to build a high-quality, modern logistics facility on the 32,000sqm prime logistics site at Tuen Mun, in the New Territories.
Harvey said the group is currently in active discussion with a number of its e-commerce and logistics customers to take up space in the Tuen Mun development.
Goodman holds a 20% equity interest in the GHKLP. The remaining 80% is held by global capital partners, which include Canada Pension Plan Investment Board.
