Ascendas China is Looking For Funds

Wednesday, August 8, 2007 3:33
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Following the piece on Prologis last week, it was a bit fortuitous that we would see an article in today’s Shanghai daily announcing Ascendas’s plan to raise nearly a billion USD.

For those that are not familiar with Ascendas, it is a Singaporean REIT with close ties to the Singaporean Government. Where Prologis was an early mover in the warehousing/ 3pl facility secotr, Ascendas (through their ties to the Suzhou Investment Park) went for the build to suit facility sector.. and it has paid dividends.

Much like Prologis, the Ascendas developments are world class (I will make trip next week to visit one of the Suzhou facilities), and though they initially had high hurdle rate expectations and were hated by all the big real estate firms Ascendas has done well expanding into other projects in Dalian, Hangzhou, Nanjing, Shenzhen, Suzhou, Tianjin, and Xi’an

And given their interest in raising a billion USD, the list is sure to include other cities (Chengdu, Chongqing, and Wuhan are my first guesses…Wuxi perhaps if the city can guarantee the water supply…. Guangzhou if there is a guaranteed power supply).

For Manufacturers who were once looking for a reliable infrastructure to build on, Prologis and Ascendas are definately making the job of finding space much easier. The only question is can you afford the rent.

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