ESR wins Kwai Chung land bid to develop its first state-of-the-art cold storage and logistics project in Hong Kong

ESR Group announced its maiden entry into the logistics market in Hong Kong by winning the Hong Kong government Kwai Chung LOT KCT531 land bid to develop a modern logistics site, further expanding its strategic network of institutional-grade New Economy real estate.

In line with the company’s asset light strategy, ESR, through its wholly owned subsidiary Sunrise Victory Ltd., is committed to form a fund with its capital partners to develop and hold the asset.

The 55,245 square-meter (594,652-square-foot) site has a maximum gross floor area of 138,000 square meters (1.5 million square feet) and a new 50-year lease expiring in 2072. The site is located in the New Territories at the junction of Mei Ching Road and Container Port Road South, Kwai Chung, commanding a strategic geographic location that is easily accessible by established road networks to Hong Kong’s central business districts, international airport and the mainland China border. Kwai Chung is widely consi