Asian Growth Properties (AGP) and The Redwood Group (TRG) announced a joint venture on 19th January, 2011 to develop, invest and manage logistics real estate in the People’s Republic of China.
SGP (Sino Growth Properties)-Logistics, Ltd. will provide a professional platform of distribution, logistics and light manufacturing real estate facilities in selected high growth PRC markets. The Chinese industrial real estate market, currently greatly under supplied and under serviced, is expected to grow 8-9 times in size over the next decade.
SGP will leverage AGP’s local market knowledge and China development experience (directly and through its affiliates) together with TRG’s international distribution and logistics real estate development experience and global client relationships.
The joint venture has a target to invest several hundred million USD equivalent directly or through its institutional investor partners over the next years focusing on selected high-growth metropolitan areas of the PRC. Investments will be driven primarily by customer demand and need for modern facilities delivering the quality specifications of efficiency and through-put demanded by today’s leading logistics operators, retailers and light manufacturers.
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