Yahoo Finance DSV and LOGOS to invest $200 mil in built-to-suit warehouse facility
It will be DSV’s largest facility in Singapore upon its completion in 2025.
DSV and LOGOS will be investing $200 million in a built-to-suit warehouse facility that is expected to be completed by mid-2025.
DSV is a leading global logistics and supply chain service provider while LOGOS is a leading Asia Pacific logistics real estate specialist. LOGOS is also part of the ESR Group, which is the sponsor of Singapore Exchange (SGX)-listed ESR-LOGOS REIT (ELOG) J91U.
The facility, which is named DSV Pearl, is a five-storey ramp-up warehouse that spans 720,000 sq ft. It will be DSV’s largest facility in Singapore upon its completion. The facility also boasts a large floor plate of 136,000 sq ft per floor with high ceilings and advanced warehouse automation systems to increase efficiencies in the storage, retrieval and processing of goods.
Located on Tukang Innovation Drive and situated next to the Ayer Rajah Expressway, the facility is owned and developed by LOGOS and will be fully dedicated and designed for DSV.
The facility, which is designed to be environmentally-friendly, is set to be certified LEED Gold and BCA Green Mark Platinum upon its completion. Some of its features include solar panels to harness renewable energy to power the facility and onsite electric vehicle (EV) chargers as well as smart lighting to optimize energy consumption.
Once completed, the facility will create over 300 new jobs in the logistics sector.
“The DSV Pearl facility expands Singapore’s suite of advanced warehousing solutions for global businesses across sectors such as pharmaceuticals, retail, consumer goods and tech – enabling them to serve [a] growing regional demand across Southeast Asia. DSV Pearl’s partnerships with Singapore’s vibrant ecosystem of local research institutes, robotics and logistics technology providers will also support advances in automation, productivity and sustainability solutions, thus boosting the operational excellence of our logistics sector, says Png Cheong Boon, chairman of the Economic Development Board (EDB) at DSV Pearl’s groundbreaking ceremony on Sept 19.
“We are thrilled to break ground on DSV Pearl, one of our newest and most advanced warehouse facility in Asia. Singapore is a key supply chain hub in the region with growing demand for innovative warehousing solutions and DSV is committed to continue expanding our footprint in the country. The facility is set to define new warehousing standards with investments in automation and digitalisation as we aim to create more high value jobs within the industry,” adds Guillaume Burette, executive vice president, DSV Solutions APAC.
LOGOS’ co-CEO, Trent Iliffe, says: “We are very pleased to have established a new partnership with DSV to develop their first greenfield built-to-suit facility in Singapore. DSV Pearl is the second investment in our Pan Asia Core+ Venture (PACV), an open-ended flagship private fund ESR Group and LOGOS launched late last year with a focus on investing in sustainable Asia Pacific prime logistics opportunities in response to the continue growth of logistics real estate in this region. This new warehouse and our partnership with DSV is a clear strategic fit for PACV and our business.”
On the facility’s sustainability features, DSV Solutions Singapore’s managing director, Xie Fang, says the move is aligned with DSV’s commitment to achieve 50% reduction of absolute emissions by 2050 and contribute positively to [the] Singapore Green Plan 2030. She adds: “We will continue to work closely with EDB and JTC, local institutions and logistics technology solutions providers to develop innovative and sustainable warehousing solutions for customers in various industries in Singapore.”
“As a regional real estate logistics specialist, LOGOS looks forward to leveraging our local and Asia Pacific experience to develop this state-of-the-art modern ramp up facility for DSV. With a shared commitment to sustainability, this new warehouse will target the highest green credentials and help to maintain the highest of standards for logistics warehousing in Singapore,” says LOGOS’ head of Singapore, Chin Yarng.
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