ESR, GIC setting up US$500m China logistics JV
Venture will develop institutional-grade logistics facilities in key cities across China
Singapore
CHINA'S logistics property sector continues to draw interest from investors, with ESR Cayman (ESR) and GIC entrenching themselves in the space.
ESR, a logistics real estate developer, is establishing a US$500 million joint venture with Singapore sovereign wealth fund GIC to develop institutional-grade logistics facilities in key cities across China.
The transaction is still subject to regulatory approval, ESR said in a statement on Monday.
Within China, ESR's portfolio assets cover 6.62 million sq m in gross floor area, with its total assets under manageme…
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