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Singapore capital is heavily invested in Hong Kong! Mapletree wins the first battle of the government's four-year land supply plan in Tsing Yi with HK$3.6 billion
The Transport and Logistics Bureau announced that the logistics site at Tsing Yi Town Lot No. 202, located at the intersection of Tsing Hung Road and Tsing Yi Road in Tsing Yi, has been acquired by SingaporeTemasek GroupUnderMapletree IndustriesSuccessfully won the bid for HK$3.6786 billion. The land price per square foot was HK$1,500 and the transaction price was in line with market expectations.
Join forces with existing centers to create a super logistics corridor
The strategic logistics site covers an area of 477,048 square feet. The planned uses include logistics services and public parking facilities, with a maximum permitted floor area of approximately 2,452,472 square feet. It is worth noting that the winning bidder, Mapletree Industries, is already operating the "Mapletree Tsing Yi Logistics Centre" on an adjacent site. The industry expects that this new investment will produce significant synergy effects.
Forming a sea-land transport killer with Pier 9
According to market assessments, the original valuation per square foot of floor space for this logistics site was between HK$1,250 and HK$1,800, with a total valuation of approximately HK$3.07 billion to HK$4.41 billion. The final transaction price was at the upper-middle level of the forecast range. The site enjoys a prime geographical location, close to Container Terminal No. 9 and the public housing project Qingfuyuan, and the logistics infrastructure network in the area is well-developed.
A spokesman for the Transport and Logistics Bureau stressed that as the logistics industry is a key pillar of Hong Kong's international shipping centre and trade centre, the Government continues to promote industrial upgrading through land supply. To implement the policy blueprint of the "Modern Logistics Development Action Plan", the authorities plan to release four high-quality logistics sites around the Kwai Tsing Container Terminals. The response to the first site tender was enthusiastic, fully reflecting the industry’s confidence in Hong Kong’s ability to maintain its position as a regional logistics hub. The spokesperson added that the remaining three logistics sites will be launched in due course based on market conditions.
Land releases signals: Transnational e-commerce and cold chain become new outlets
This land grant reflects the government’s strategic planning: to enhance the value chain of port-related industries through cluster effect and focus on the development of high value-added logistics services. The analysis pointed out that multi-storey modern logistics facilities can not only alleviate the shortage of warehousing space, but also help attract emerging industries such as cross-border e-commerce and cold chain logistics, thereby consolidating Hong Kong’s competitive advantage as an international logistics gateway for the Greater Bay Area.
Mapletree Properties Pte Ltd, referred to asMapletree Industries（English:Mapletree Investments Private Limited), in 2000 byTemasek Holdings LimitedSet up an investment company.
