SUN HUNG KAI PROPERTIES LIMITED Sun Hung Kai Properties Limited (SHKP) and Kerry Logistics (Hong Kong) Limited (Kerry Logistics) completed a contract-signing ceremony today and announced that they had reached a lease agreement on an approximately 158,000 square feet warehouse in the Tuen Mun Industrial Area for three years. The agreement further demonstrates that SHKP's extensive business experience is not limited to real estate, transport infrastructure, information technology and air freight; it also has a quality, diverse industrial assets portfolio for the logistics industry.
The warehouse in the lease agreement is four stories high with a floor-to-floor height of 16 feet, allowing flexible and practical layouts. It is equipped with large freight elevators and spacious parking spaces, offering a high degree of flexibility with 24-hours access. The property's comprehensive range of facilities maximizes the efficiency of loading and unloading freight, and it is perfect for 24/7, all-weather business operations. In addition to its unique architectural features, the property enjoys an exceptional geographical advantage.
Raymond Fok, General Manager of Real Estate Portfolio Management & Transaction Strategy of Sun Hung Kai Real Estate Agency Limited, said, "We are delighted to have Kerry Logistics as a tenant. We are confident that the warehouse in Tuen Mun will provide a first-rate work environment for Kerry Logistics, supporting their future business development needs. Because of the well-developed transport network in Tuen Mun and the opening of the Hong Kong-Zhuhai-Macau Bridge, industrial buildings in the area have become popular in the logistics industry. On top of that, SHKP's comprehensive property and facility management ensures quicker and safer freight logistics for tenants. With the increasing interaction between Hong Kong and other Greater Bay Area cities, the development strategies laid out in the 14th Five-Year Plan, and the planning and completion of large-scale infrastructure projects, imports and exports between Hong Kong and Mainland are expected to seefast, sustained growth at a substantial speed."
Ellis Cheng, Chief Financial Officer of Kerry Logistics Network Limited, said, "We are pleased to be able to extend our partnership with SHKP, which started 30 years ago when we co-owned a warehouse together operated by Kerry Logistics. In recent years, Kerry Logistics has leaned towards an asset-light strategy that rivals business in this sector around the world. The partnership with SHKP is an example of how we implement our asset-light strategy. An industry leader in Hong Kong's real estate sector, SHKP is renowned for the premium quality of its properties and remarkable management services, which allow us to focus on our operations and put our customers first."
About Kerry Logistics Network Limited
Kerry Logistics is the master brand of Kerry Logistics Network Limited ("KLN" or the "Company").
KLN and its group of companies (the "Group") is an Asia-based, global 3PL with a highly diversified business portfolio and the strongest coverage in Asia. We offer a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal), industrial project logistics, to cross-border e-commerce, last-mile fulfilment and infrastructure investment.
With a global presence across 58 countries and territories, KLN has established a solid foothold in half of the world's emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.
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Sun Hung Kai Properties Ltd. published this content on 13 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 December 2021 02:26:05 UTC.
