Goodman expects sustainable growth in China

By Cherry Cao | October 31, 2013, Thursday |

Online Edition

GOODMAN, a global integrated property group which owns, develops and manages industrial space, expects its China business to expand at a continuously robust pace as it keeps capitalizing on strong demand for high-quality warehousing space across the country.

The Australia-listed industrial property group, which currently has 530,000 square meters of work in progress in key Chinese cities including Shanghai, Tianjin, Chengdu, Langfang, Changzhou, Hefei, Nanjing and Chongqing, plans to increase its development portfolio to approximately 800,000 square meters over the next 12 months, the company said today.

"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.

Entering the China market in 2005, Goodman's property portfolio has grown to 1 million square meters across 17 properties while asset under management has been increased to US$1 billion, according to Pearce.

Earlier this week, Goodman just entered into an agreement to develop a 33,000-square-meter built-to-suit facility for BMW Brilliance Automotive Ltd in Hebei Province.

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Goodman expects sustainable growth in China

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