Mapletree buys site in Japan for logistics development
Mapletree Investments has entered the Kyushu, Japan logistics market by acquiring a land site. The site and development will cost an estimated S$550 million ($410 million), which includes acquisition cost and development cost.
The firm has plans to develop two blocks of class A, four-story, logistics facilities on the site. They will have a combined gross floor area of 231,648 square meters (2.5 million square feet). It will be the largest warehouse space in Kyushu upon completion.
Construction of the first warehouse will be completed in early 2023, while the second warehouse is slated to open by spring 2024.