PROLOGIS TO POUR USD300MN INTO SHANGHAI LINGANG NEW CITY
AsiaInfo Services, September, 2005
AsiaInfo Services 09-27-2005 ProLogis to Pour USD300mn into Shanghai Lingang New City SHANGHAI, Sep 27, 2005 (SinoCast via COMTEX) -- ProLogis, the largest industrial real estate investment trust in the world, recently announced it had started construction of logistics park in Shanghai's Lingang New City. The park is jointly developed by a 50-50 joint venture between the US-based company and Shanghai Lingang Group, and the registered capital of the joint venture is USD 50 million. The first phase of the park under way covers an area of around 160,000 square meters and is expected to complete in early 2006.
And the second and third phases will also be kicked off next year. ProLogis plans to invest at least USD 300 million in this project. Behind the...
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