Singapore’s Mapletree Investments has bought a site in Fukuoka, Japan to develop a S$550m (€344m) logistics facility.

Mapletree said it bought the site for a development that would include two blocks of four-storey logistics facilities. It will offer gross floor area of 231,648sqm once completed in 2024.

Wong Mun Hoong, Mapletree’s regional CEO for Australia & North Asia, said: “Fukuoka, the gateway to Kyushu, is one of the regions in Japan where the group has a high conviction for modern logistics facilities.”

Wong said apart from diversifying the group’s logistics portfolio, this prime land acquisition would pave the way for it to build a presence in Kyushu.

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