From left to right:
- Mr. Nick Chung, General Manager, Logistics, China, Mapletree Investments Pte Ltd
- Mr. Pan Kaiming, Director of Zhengzhou International Logistics Park
- Mr. Quek Kwang Meng, Regional Chief Executive Officer, China and India, Mapletree Investments Pte Ltd
- Mr. Zhao Ruidong, Party Secretary of Zhengzhou New Area
- Mr. Song Guoqing, Deputy Director of Henan Provincial Commerce Department
- Mr. Paul Ma, Chairman of Board Director, Mapletree Logistics Trust Management Ltd
- Mr. Zhao Jiancai, Vice-Governor, Henan Province
- Mr. Yew Sung Pei, Assistant Chief Executive Officer, IE Singapore
- Mr. Ma Yi, Mayor of Zhengzhou City
- Ms. Zhou Jiasui, Deputy Director of IE Singapore China Office
- Mr. Lee Gongle, Vice-Mayor of Zhengzhou City
- Mr. Liu Wensheng, Deputy Inspector of Provincial Development and Reform Commission
- Mr. Loh Shyh, Chief Executive Officer, China, Mapletree Investments Pte Ltd
- Mr. Xu Xiangfeng, County Magistrate of Zhongmou
- Mr. Zhang Xiancai, Chairman of Fujian Industrial Equipment Installation Co., Ltd
Singapore – Mapletree Investments Pte Ltd (“Mapletree”) today announced the groundbreaking of Mapletree (Zhengzhou) International Logistics Park (“MZILP”), its latest logistics facility development in China.
Located in Zhengzhou International Logistics Park, Henan Province, MZILP is a grade-A logistics facility with a gross floor area of 81,000 square metre (“sqm”) developed on 200 mu (~ 133,000 sqm) of industrial land. Comprising four blocks of single-storey warehouses, the modern and high quality logistics facility is designed with good building specifications, including 9 metres clear height and 30kN/m2 floor loading.
About 50% of the development has been pre-leased to a leading third-party logistics operator, with another 20% of the space being finalized to be taken up by an international retailer and an industrial conglomerate.
“There is strong demand for grade-A logistics facilities in Zhengzhou as can be seen from the robust leasing momentum. We have already secured some 70% pre-commitment for MZILP before the commencement of construction. With its strategic location in Zhengzhou and easy access to key transportation networks, the park is ideally located for regional distribution purposes serving this economically vibrant market,” said Mr Hiew Yoon Khong, Mapletree’s Group Chief Executive Officer.
Zhengzhou is the capital of Henan province and also its largest city in terms of gross domestic product (“GDP”). Given its prime location and good connectivity by railway and road transportation, Zhengzhou is a major transportation hub serving central China. It is sought after by third party logistics players and manufacturers as a central distribution hub to serve the 100 million population in Henan.
Mr Hiew added, “China is a key market for Mapletree and we will continue to scale up our presence here in all real estate asset classes. The rapidly growing consumer market in China has generated significant demand for high quality and modern logistics facilities. To capture this demand, we are continually exploring good locations for logistics development. To this end, Mapletree recently signed two other memoranda of understanding to secure land in Wujiang and Xi’an to develop logistics facilities, thereby increasing our ability to provide customers with a wider network of logistics facilities across China.”
Mapletree recently signed a Memorandum of Understanding (“MoU”) to develop a logistics park on a 200mu (~ 133,000 sqm) land parcel in Wujiang, Suzhou. Strategically located near to the Suzhou-Singapore Industrial Park and with good accessibility to Shanghai Hongqiao airport, the site is ideal for the development of a logistics park to support the technological and industrial players in the vicinity. The location is also well sought after by the automotive industry players for regional distribution in East China.
Another MoU was signed for the acquisition of a land plot of approximately 336mu (~ 224,000 sqm) in Fengdong New District, Xi’an for another logistics development. Led by the IT and high-tech manufacturing industries, Xi’an is well poised to grow its economy and local consumer market. In 2011, Xi’an reported a 13.8% growth in GDP to CNY386.4 billion.
Mapletree has to-date developed five logistics parks in China in the cities of Beijing, Tianjin, Shanghai and Wuxi, valued at more than US$200 million. These logistics assets, when completed with stabilised rentals, will be offered on a right of first refusal to Mapletree Logistics Trust (“MLT”). Currently, MLT has a portfolio of 109 logistics facilities across Asia of which six are located in China.
