SOURCE: Goodman Group

Goodman Group

December 26, 2013 22:00 ET

Goodman Holds Groundbreaking Ceremony for 100,000 sqm Wujiang Distribution Centre in Jiangsu Province

SHANGHAI, CHINA--(Marketwired - Dec 26, 2013) - Goodman Group (Goodman or Group), the global integrated property group which owns, develops and manages industrial space, held a groundbreaking ceremony on 18 December 2013 for the Goodman Wujiang Distribution Centre in Jiangsu Province in eastern China.

Located in Wujiang District, the new distribution centre will be developed in two phases. The first phase, due for completion in 2014, will comprise 100,000 sqm of prime logistics space, making it the biggest project currently under development in the Eastern China market.

Philip Pearce, Managing Director Greater China for Goodman, said, "The development is our first in Wujiang district, and we are seeing strong demand from major e-commerce customers. Our aim is to build an e-commerce platform that will become the benchmark for the industry here in mainland China."

"Many of our local and international e-commerce customers have shown interest in this development amid the supply shortage of high quality and efficient e-commerce logistics space in the area. With our strong track record globally and in mainland China, we are well-positioned to meet the surging demand from our customers."

The groundbreaking ceremony was attended by over 100 guests including government officials of the Wujiang District and the Deputy Consul General of Australia and Trade Commissioner of Austrade.

Goodman has been operating in China since 2005. It has developed more than 1 million sqm of logistics space across 17 projects in six cities. It is currently developing a combined 530,000 sqm of prime logistics space in Shanghai, Tianjin, Nanjing, Chengdu, Hefei, Changzhou, Jiaxing, and Langfang.

Mr Pearce added, "China continues to provide long term strategic growth opportunities for Goodman. With a land bank covering 4.3 million sqm, we aim to develop 800,000sqm of modern, high quality logistics space in the coming year to meet customer demand."

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About Goodman

Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom, North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist fund managers of industrial property and business space globally.

Goodman's global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver long-term returns for investors

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