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Firm’s China business to grow solidly
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GOODMAN, the global integrated property group which owns, develops and manages industrial space, expects its China business to grow robustly as it taps strong demand for high-quality warehousing across the country.
The Australia-listed industrial property group, which has 530,000 square meters of works in progress in key Chinese cities including Shanghai, Tianjin, Chengdu, Langfang, Changzhou, Hefei, Nanjing and Chongqing, plans to boost its development portfolio to around 800,000 square meters over the next 12 months, the company said yesterday.
“With 4.3 million square meters of secured and controlled land, we are well on track to continue our expansion plans and pursue opportunities in China which is our third-largest market in the world following Australia and Europe,” said Philip Pearce, managing director for Goodman China.
Since it entered China in 2005, Goodman’s property portfolio has grown to 1 million square meters while its managed assets have risen to US$1 billion, Pearce said.
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