COMMERCIAL PROPERTY | Staff Reporter, Hong Kong

Hong Kong earmarks 35 hectares of land for logistics, storage industry development

These will be in the Northern Economic Belt.

Driven by strengthening demand from Asian countries, the value of exports and imports increased by 8.1% y-o-y and 7.6% y-o-y, respectively, in November, according to JLL.

Air-freight cargo grew 7.1% y-o-y in November, while container throughput rose 10.1% y-o-y over the same period. Improvements in external trade saw 3PLs turning more active. A local logistics operator expanded into 64,000 sq ft at Yip’s Chemical Building in Fanling, paying HKD 9 per sq ft per month.

Here's more from JLL:

Office equipment supplier Ricoh Asia Pacific Operations leased two units (a total of 35,000 sq ft) at Dynamic Cargo Centre in Tsuen Wan.

In its strategic study “Hong Kong 2030+”, the government has earmarked 35 hectares of land in the Northern Economic Belt, consisting of districts in northern New Territories, for logistics and storage development.

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