SINGAPORE/TOKYO, 30 August 2024 - GIC, a leading global investment firm, has acquired a logistics facility in Yokohama city, part of the Greater Tokyo metropolitan area. The asset is well-located within the Kanagawa Prefecture and enjoys convenient access to the entire Greater Tokyo region.

The facility was developed by Daiwa House Industry (“Daiwa House”), a top class Japanese real estate developer. Completed in in 2022 and fully occupied, the asset has modern building specifications that cater to a wide range of tenants.

As Daiwa House’s flagship logistics facility, the four-floor property spans an area of more than 126,000 square metres, making it one of Daiwa House’s largest assets built to date. It features seismic-base isolation for additional earthquake resistance and was designed with elements for social community engagement. These include an open deck space, a convenience store and a café, which are open to workers located at the asset, as well as nearby residents.

This transaction follows GIC’s 2023 acquisition of several other logistics facilities developed by Daiwa House across Japan. These include a portfolio of six warehouses across Japan, as well as three other warehouses developed and owned by Daiwa House in Yatomi city (Greater Nagoya), Takatsuki city (Greater Osaka), and Tosu city (Greater Fukuoka).

GIC remains strongly committed to Japan’s real estate sector. Specifically for logistics, GIC expects demand for modern logistics spaces to continue to grow, driven by e-commerce and supply chain optimisation trends.

GIC has been operating in Japan for over 30 years and will continue to actively explore investment opportunities across sectors, in both the public and private markets.