Despite the Covid-19 pandemic, the industrial real estate market is still bustling with many merger and acquisition (M&A) deals and an increase in new industrial land areas. ESR Cayman, the largest logistics real estate platform in Asia-Pacific, has teamed up with BW Industry Development to set up a joint venture to develop a 240,000 square meter land in My Phuoc 4 Industrial Zone (IZ) near HCM City. The cooperation marks ESR's joining the Vietnamese market, a move which helps it expand in Southeast Asia. KCN Vietnam Group, a newcomer in the market, has bought a 250 hectare land bank with investment capital of $300 million. The company plans to develop high-end factories and warehouses for lease, stretching from Bac Giang, Hai Phong and Hai Duong in the north to Dong Nai and Long An in the south. Regarding M&A activities, Boustead Projects has reached an agreement on acquiring 49 percent of shares of Logistics KTG & Boustead. If the deal succeeds, the cooperation will bring 13 real estate projects worth $141 million in total, including 840,000 square meters of land area and 550,000 square meters of leasing area. Jinko Solar and Fukang Technology from Hong Kong and Singapore are the… Read full this story
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