The burgeoning growth in online retailing and domestic demand in China has led Australian property group Goodman to seek further logistics and warehousing projects in Hong Kong and on the mainland, senior executives said yesterday.
Greg Goodman, the firm's chief executive, said: 'We are looking at other developments [in Hong Kong] if we get the land at the right price.'
Goodman said Hong Kong had seen a reduction in industrial space as sites were being redeveloped for residential use. 'We believe there is shortage of land' for logistics-related developments, he said, echoing the views of transport consultants and logistics companies.
Phil Pearce, the managing director for greater China, said the firm already had developments in Shanghai and Beijing and was 'targeting major first-tier' and adjacent cities.
Pearce shrugged off concerns about the impact of slower economic growth on the mainland, saying the 7.5 per cent growth forecast by Premier Wen Jiabao on Monday 'was still a high number'.
He said there was a shortage of sophisticated, high-quality logistics and warehousing facilities.
Goodman said 30 per cent of inquiries to the company for warehousing space on the mainland came from the online retailing sector.