Goodman Group (Goodman or Group), the global integrated property group which owns, develops and manages industrial space, is pleased to announce that it has signed an agreement to develop a 22,000sqm built-to-suit facility for Best Logistics Technology (Hangzhou) Co. Ltd (Best Logistics) in Chongqing, Western China.
Goodman Chongqing Airport Logistics Park, which has a total land area of 284,000 sqm, is Goodman's first project in Chongqing. It will be developed in multiple phases, comprising a total of eight warehouses and providing approximately 190,000 sqm of prime logistics space, with an estimated end value of US$130 million. Goodman also recently announced that it will develop a 46,700 sqm built-to-suit facility for Yunda Express, one of the largest privately owned express delivery companies in China, at Goodman Chongqing Airport Logistics Park.
Best Logistics is one of China's largest providers of integrated logistics and supply chain management services in mainland China. In order to meet the increasing needs from customers in Western China and enhance its integrated logistics services in the region, Best Logistics intends to establish a regional integrated logistics centre, which will comprise a warehouse and a multi-use facility at Goodman Chongqing Airport Logistics Park upon completion. Construction of the built-to-suit facility for Best Logistics is scheduled to commence in April 2014, with expected completion in October 2014. This will strengthen Best Logistics' ability to provide stronger integrated logistics services and be better prepared for China's Singles Day, China's biggest online shopping event on 11 November, and contribute to the development of the e-commerce industry in the region.
Philip Pearce, Managing Director Greater China for Goodman, said, "We are delighted to welcome Best Logistics as a new customer to our China portfolio and to Goodman Chongqing Airport Logistics Park. As Best Logistics continues to expand in mainland China, efficient and modern logistics space will become a key component of its business development. We aim to work closely with Best Logistics to fulfill its continuous need for quality logistics facilities."
Mr Pearce added, "Western China continues to be an area of growth for us. We see surging demand and a lack of supply for prime logistics space in this part of the country, and have invested a significant amount of capital and resources here to ensure we are well positioned to accelerate the future growth of our business."
Mr Johnny Chou, CEO and President for Best Logistics, said, "We are growing at a rapid pace in mainland China and need a partner like Goodman, to provide us with high quality logistics facilities that will enable us to be more efficient in meeting the growing demand from our customers."
Goodman currently has a landbank of over 4.3 million sqm in mainland China, with 570,000 sqm of developments underway in key cities including Shanghai, Chongqing, Tianjin, Chengdu, Langfang, Changzhou, Hefei, Shenyang and Nanjing.