Logos has agreed to buy a site in Singapore to redevelop into an e-commerce logistics hub worth SGD270m (€170m).
The pan-Asian logistics group said construction at 4 Pandan Crescent will commence in 2019, subject to relevant planning and construction approvals.
The first phase of construction is scheduled for completion in late 2020.
Stephen Hawkins, Logos Southeast Asia managing director, said: “We are currently in discussions with a number of potential tenants in regards to this development and look forward to sharing more on this in due course.”
On completion of the 11,000sqm-logistics facility, the logistics group’s total commitments in Singapore will rise to more than more than SGD800m.
Logos, backed by Ivanhoe Cambridge, first entered the Singapore market in 2016 and purchased two properties. The joint venture partners invested with local developer Yang Kee Logistics.
It has since used Singapore has a launching pad into Indonesia.
