LaSalle Investment Management (LaSalle) has begun work on five logistics developments projects in various cities throughout China.
The asset manager expects the projects to deliver 359,000m2 of leasable ground floor space upon completion early next year.
Strong domestic consumption will continue to drive demand for modern facilities in China, La Salle said.
“We have seen significant pre-leasing activity on our development portfolio,” said Alex Li, senior vice president of LaSalle’s logistics leasing and business development arm.
The projects form part of LaSalle’s strategy to increase it logistics portfolio in the region in order to meet growing demand. Claire Tang, LaSalle’s head of greater China, said: “consumer purchasing driven by technology and e-commerce has been rapidly pushing up the demand for modern logistics facilities located in top tier markets”.
The five LaSalle Logiport projects are located in:
- Shanghai Qingpu Logistics Park
- Suzhou Wangting Logistics Park
- Jiaxing Pinghu Logistics Park
- Chongqing Airport Logistics Park
- Xian Airport Logistics Park
As of the first quarter this year, the real estate investment specialist has around $64 billion of assets under management in private and public real estate property, and debt investments.
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