ESR Group signs JV with Chinachem Group in Hong Kong

ESR Group and its subsidiary Sunrise Victory have entered into a joint venture with Chinachem Group to develop a prime cold storage and logistics facility at Kwai Chung in Hong Kong.

Chinachem Group, a property developer based in Hong Kong, is extending its business to the logistics sector for the first time through this collaboration.

Expected to be completed in 2027, the facility has a strategic location at the junction of Mei Ching Road and Container Port Road South, at Kwai Chung in the New Territories.

The property is proximate to Hong Kong’s central business districts, international airport and the border to Mainland China.

It will be developed on a 55,245 square-meter (594,652-square-foot) site, with a new 50-year lease expiring in 2072, which ESR had recently won via a Hong Kong government land bid on July 20.