Mapletree Investments bags HK$3.7 billion Hong Kong logistics site
The plot can be built up to a maximum gross floor area of 227,836 square metres
MAPLETREE Investments was awarded a logistics development site in Hong Kong on Tuesday (Feb 25) after it placed the sole bid of HK$3.7 billion (S$633 million).
The site is next to its existing Mapletree Logistics Hub Tsing Yi.
The plot has a site area of about 44,318 square metres (sq m) and can be used for logistics services and public vehicle parking purposes. It has a 50-year land grant.
The site can be built up to a maximum gross floor area of 227,836 sq m, Hong Kong’s Lands Department said.
In response to queries from The Business Times, Mapletree Investments said: “We look forward to the completion of yet another quality logistics site in Hong Kong.”
A spokesman for the Transport and Logistics Bureau said: “The government attaches great importance to logistics development in Hong Kong, which is crucial for complementing the growth of the city as an international maritime centre and international trade centre.”
To realise its vision of Hong Kong as a premier international logistics hub, the territory has committed to providing a stable supply of quality logistics sites by releasing four quality logistics sites near the Hong Kong Kwai Tsing Container Terminals to address the industry’s need for modern, high-end, multi-storey logistics facilities, the spokesman said.
The Tsing Yi site is the first of the four sites, with the remaining three sites to be released in a timely manner “taking into consideration the market situation”.
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