CapitaLand will invest about JPY 7.5 billion (S$90.8 million/$67million) to fully acquire a freehold site and develop a four-story modern logistics facility in Ibaraki City, Osaka, Japan.
This is CapitaLand’s second logistics development in Japan.
CapitaLand acquired the site from Mitsui & Co. as part of its ongoing collaboration with Mitsui & Co. Real Estate Ltd. to develop and operate best-in-class logistics projects in Japan. The new logistics facility will be located within a major logistics hub in Osaka, well-connected to Kyoto and Kobe via major expressways. When completed in third quarter 2023, the logistics facility will have a gross floor area of about 27,000 square meters (290,625 square feet)
As part of CapitaLand’s active portfolio management strategy, it also has divested its two remaining retail malls in Greater Tokyo, Olinas Mall and Seiyu & Sundrug Higashimatsuyama, for a total of more than JPY 42 billion (S$520 million/$386 milli
