Mapletree Investments Pte Ltd (Mapletree) has entered the Kyushu logistics market with a prime land acquisition measuring a total of 116,319 square metres in Chikushino, Fukuoka, Japan.
The land will be transformed into two blocks of multi-storey logistics facilities with a combined gross floor area of 231,648 sqm with total investment to be over S$550 million.
Mapletree says it is set to be the largest warehouse space in Kyushu logistics market upon completion.
The site is well-connected to major transportation infrastructure, including the Chikushino Interchange of the Kyushu Expressway (a 1-minute drive away), Fukuoka Airport (20 minutes) and Fukuoka central business district area (30 minutes).
“Fukuoka, the gateway to Kyushu, is one of the regions in Japan where the Group has a high conviction for modern logistics facilities,” said Mr Wong Mun Hoong, Mapletree’s Regional Chief Executive Officer for Australia & North Asia. “As the economic, administrative and cultural centre of Kyushu region, Fukuoka appeals to various industries to strategically locate their branches within the city or in the vicinity. Apart from diversifying our logistics portfolio, this prime land acquisition will enable the Group to build a presence in Kyushu, provide quality logistics space to our business partners and deepen our network connectivity in seven out of eight regions in Japan.”
Home to Japan’s youngest population, Fukuoka is a fast expanding and dynamic city in the country. It is also one of Japan’s key industrial hubs, especially for logistics, high technology and automobile manufacturing sectors. In recent years, Fukuoka has been touted as an attractive economic location for new start-ups.
The development by Mapletree will consist of two blocks of Grade A four-storey, double ramp-way modern warehouses.Construction of the first warehouse will be completed in early 2023, while the second warehouse is slated to open by Spring 2024.