Goodman Group, an Australian integrated industrial property development and management company, plans to spend more than US$100 million a year to expand in China in the next two to three years, the Hong Kong Economic Journal reported, citing the firm’s managing director for Greater China Philip Pearce.
The company will focus its investment on logistic hubs, storerooms and warehouses in western China, including major cities such as Xi’an and Chongqing, to grab opportunities in the country’s growing logistics industry, Pearce told the newspaper, noting that the sector’s outlook has been boosted by the robust e-commerce market.
Compared with their peers in the United States, Chinese online shopping malls have much room to expand, Pearce said.
Goodman has leased its warehouse in Suzhou to internet mall operator Tmall.com, a unit of Alibaba Group Holding Ltd., in February, and several properties in Chongqing to the courier service provider Yunda Ltd., the report said.
Best Logistics Technology Co. Ltd. also rented space at the Chongqing logistics hub to meet rising demand, especially during online shopping festivals, Pearce was quoted as saying.
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