ESR, GIC setting up US$500m China logistics JV

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…