Singapore’s Mapletree to embark on $410 million warehouse development in Japan
Mapletree has acquired prime land for Grade A warehouse development in Chikushino, marking its entry into the logistics market of Kyushu.
November 27, 2020
By PLA Editor
Mapletree Investments expects to allot over S$550 million ($410 million) for the development of modern logistics hubs in Kyushu, which is set to be the largest warehouse space in Japan’s southwestern island upon completion.
The Singapore-based company purchased 116,319 square metres of prime land for warehouse development in Chikushino, Fukuoka, which will be transformed into two blocks of multistorey logistics facilities with a combined gross floor area of 231,648 sqm.
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, whilst the second warehouse is slated to open by spring 2024.
“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,” said Mr Wong Mun Hoong, Mapletree’s Regional Chief Executive Officer for Australia & North Asia.
Home to Japan’s youngest population, Fukuoka is one of Japan’s key industrial hubs, especially for logistics, high-technology and automobile manufacturing sectors. In recent years, the city has been touted as an attractive economic location for new startups.
Major transportation infrastructure connecting the new warehouse site include the Chikushino Interchange of the Kyushu Expressway, Fukuoka Airport (FUK), and Fukuoka CBD area.