Goodman Group hosted the groundbreaking for Interlink, its landmark warehouse and distribution development in Hong Kong's strategically important Tsing Yi port district. Valued at more than HK$4 billion (approximately 377 million), Interlink is one of the largest industrial development projects currently being undertaken anywhere in the world and is one of the first major new Hong Kong warehouse projects in nearly a decade.
When completed in January 2012, the 2.4 million ft² (222,000 m²) development will be the fourth largest warehouse in Hong Kong. Designed to high technical and environmental specifications, it will also be among Hong Kong's most modern and efficient warehousing and distribution centers.
Over 1.2 million ft², approximately half of Interlink's total gross lettable area (GLA) has been preleased and optioned to two leading global logistics operators - DHL Supply Chain (Hong Kong) Limited and Yusen Air & Sea Services (Hong Kong) Limited. In addition, Goodman is also in negotiations with other international logistics players, equivalent to 77% of Interlink's GLA.
The groundbreaking and signing event was attended by approximately 150 people, including senior representatives from DHL Supply Chain and Yusen Air and Sea Services. Speaking at the event, Mr Paul Graham, CEO DHL Supply Chain Asia Pacific said, "the Goodman Group is one of the major real estate partners for DHL Supply Chain and our total warehouse footprint with Goodman in the Greater China and Oceania regions spans over 248,000 m²."
Greg Goodman, Group Chief Executive Officer of Goodman said, "There is significant pent-up demand in Hong Kong for efficient and modern warehousing facilities. The signing of two such prominent and well respected companies in the logistics industry is testament to this and also the development's scale, excellent location and its innovative and high specification of design. As our biggest development project to date, Interlink marks a new milestone in the Group's commitment to Asia, and our strategic expansion in Hong Kong and China."
Supply of efficient warehousing space in Hong Kong is increasingly constrained as demand grows and existing buildings are converted to residential and commercial use. Being strategically located for Hong Kong's container ports, the International Airport and major highways to mainland China, Interlink will introduce approximately 5% of prime new space to the local market.
Mr Philip Pearce, Goodman's Managing Director, Greater China said, "Located at the heart of Tsing Yi container port and built to Goodman's environmental and construction standards, Interlink is designed to meet all the needs of modern logistics operators. We are delighted that both customers are consolidating their local high value-added logistics operations at Interlink."
"Today's announcement marks a new milestone in our strong partnership with the Goodman Group," said Paul Graham, Chief Executive Officer, Asia Pacific, DHL Supply Chain. "Hong Kong is one of our key markets in Asia Pacific and we remain confident in our growth potential here. As a high quality facility, Interlink will enhance our operational efficiency and capabilities in offering best-in-class supply chain solutions for our customers. This will also ensure that DHL Supply Chain is well-equipped to respond to our future business growth and customers' needs in this dynamic region."
"As a company, we have 36 years of history and experience here in Hong Kong, and we believe that Hong Kong's role will continue to grow in importance in South China going forward. We are looking forward to seeing the completion of Interlink, and to utilize the modern Interlink facility as the base for our logistics service. The facility will serve as a means by which we are able to satisfy our customers' needs, with our newly-renovated, high-quality and reliable service." Mr Yasuhiko Nojima, Managing Director of Yusen remarked.
Interlink will be built in compliance with both the HKBEAM (Hong Kong Building Environments Assessment Method) and LEED