IGIS Asia Investment Management and QuadReal Property have partnered to develop logistics assets in Korea.
As part of the partnership, QuadReal, British Columbia Investment Management Corporation’s subsidiary, will provide the majority of capital with the IGIS team responsible for originating, developing and operating the assets.
Peter Kim, managing director, Asia, at QuadReal Property, said: “Global logistics market fundamentals remain compelling, driven by supply chain reconfiguration requirements and the growth of omni-channel retail.
In South Korea we continue to witness the interrelation between e-commerce-led occupational demand and a shortage of Grade-A space in proximity to dominant urban centres, which is forecast to underpin rental and capital growth.”
Steve Oh, CEO at IGIS Asia Investment Management, said: “The South Korean logistics market is continuing to evolve which will create some interesting investment opportunities delivering attractive risk-adjusted returns.
”We are seeing not only increasing demand for high-quality logistics assets in emerging sub-markets outside of Greater Seoul, such as the Southern provinces, but also from traditional and emerging manufacturing businesses seeking to enhance the cost-effectiveness of their supply chains.”
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