21 February 2020

Goodman sees more room to move in China warehousing, paper says

Australia-listed industrial property group Goodman expects its China business to grow robustly as it taps strong demand for high-quality warehousing across the country, Shanghai Daily reported Friday. The company has 530,000 square meters of works in progress in key Chinese cities including Shanghai, Tianjin, Chengdu, Langfang, Changzhou, Hefei, Nanjing and Chongqing, and plans to add around 800,000 square meters to its portfolio over the next 12 months, the report said. Since entering China in 2005, Goodman’s property portfolio has grown to 1 million square meters while its managed assets have risen to US$1 billion, Goodman China managing director Philip Pearce was quoted as saying.

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