ESR completes construction of Wenzhou Ruian Logistics Park in China

Felicia Tan
1-min read

The park has a planned gross floor area (GFA) of 129,000 sqm.

ESR Group, the sponsor of ESR-LOGOS REIT (E-LOG) and Asia Pacific’s (APAC) largest real asset manager, has completed the construction of ESR Wenzhou Ruian Logistics Park in Eastern China.

The park is located in the Wenzhou Ruian Economic Development Zone, which is a port city of industry and trade in the southeast coast of Zhejiang.

The park has a planned gross floor area (GFA) of 129,000 sqm.

According to ESR, the new park, which is built to meet the needs of the new economy manufacturing sector, will cater to a combination of industrial manufacturing and logistics storage businesses.

Ruian is the core production base of automobile and motorcycle parts in Wenzhou and has hundreds of large-scale automobile and motorcycle parts manufacturers, providing supporting equipment for more than 100 domestic vehicle manufacturers.

"The accelerated growth of ecommerce and continued resilience of the supply chain drive the demand for modern logistics facilities that enable high operational efficiency, while encompassing sustainability features,” say Jeffrey Shen and Stuart Gibson, ESR co-founders and co-CEOs.

“ESR Wenzhou Ruian Logistics Park will further benefit from the local government’s focus on growing leading industries such as auto parts, mechanical equipment and polymer materials, as well as emerging industries including digital economy, intelligent equipment manufacturing and life sciences, which will all require high quality logistics spaces,” they add.

As at June 30, ESR has total assets under management (AUM) of US$32 billion ($43.21 billion) and about 13.9 million sqm of GFA in China.

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