Goodman Qingpu Centre opened by Minister for Trade of Australia

Goodman Group, the global integrated property group which owns, develops and manages industrial and business space, has held the opening ceremony for Goodman Qingpu Centre, a landmark industrial and business facility in Shanghai. The development, covering a total area of more than 110,000 sqm, was formally declared open by the Honorable Steven Ciobo MP, the Minister for Trade and Investment of Australia, and representatives of the Shanghai Municipal Commission of Commerce.
Goodman Qingpu Centre achieved 97% occupancy by completion, reflecting the strong competitive advantage Goodman derives from the development of premium quality, modern industrial space in strategic locations. Goodman’s global platform spans 16 countries in Asia Pacific, Europe and the Americas, with total assets under management of A$33.4 billion across 432 properties.
Mr Greg Goodman, Goodman Group Chief Executive Officer, said: “Goodman’s strategy is to drive sustainable long-term growth and selectively pursue opportunities in key cities around the world, including Shanghai. Our focus on delivering the highest standards of customer service and ability to provide a consistently high quality product and service offering is demonstrated in our high occupancy and customer retention levels and strong leasing demand.”
In Greater China, Goodman is one of the largest providers of industrial space with total assets under management of US$5.5 billion (A$7.5 billion) across 41 properties. In addition, it has a development work book of 800,000 sqm covering 17 projects. An increasing number of our developments are pre-leased, indicating the maturity of the market as more companies incorporate their future property space needs into their overall business planning. Goodman has received encouraging demand with over 60% of these projects pre-committed, with a high level of enquiry on the balance of the space, from both local and international customers.
In December 2015, Goodman and Canada Pension Plan Investment Board increased their equity allocation to the Goodman China Logistics Partnership by US$1.25 billion, to take advantage of the current operating conditions and undersupply of prime industrial space in China. This is being delivered through Goodman’s focus on strengthening its operating platform in key cities, predominantly in and around Shanghai and Beijing.
Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom and the Americas. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist investment managers of industrial property and business space globally.