GAZELEY Ltd, a leading European logistics space developer, said yesterday it plans to extend its presence to Shanghai in a few months as warehousing demand in the city remains robust.
The company, a wholly-owned subsidiary of United States retail giant Wal-Mart, is now aggressively seeking land in the city to build standard warehousing facilities.
"According to our initial plan, we will probably develop two warehousing facilities in Shanghai, each with about 50,000-square-meters' GFA (gross floor area) space or above,'' Fred Chen, a senior development manager at Gazeley, told Shanghai Daily yesterday. "Shanghai is definitely the place that no industrial property players should miss due to a very strong market demand.''
The firm said it is close to acquiring one of two land pieces and construction will begin very soon.
Gazeley, which plans to have 100,000 square meters of warehousing space in China this year, now has four logistics sites under construction in Kunshan, Nanjing, Jiaxing and Tianjin, and cities such as Guangzhou, Beijing and Chengdu are in its future plan.