At a glance
- Company
- JINGDONG Property, Inc.
- Announcement
- Acquisition
- Location
- Hong Kong
Key figures
- LiFung Centre area
- 487,350 square feet
People
- Cao DongCEO of JDP
- Richard LawHead of Asia Pacific at JDP
Products and programs
September 30, 2024 -- JINGDONG Property, Inc. (“JDP”), a leading and rapidly growing modern infrastructure investment and asset management platform of JD.com, has successfully completed the acquisition of LiFung Centre in Hong Kong, a 487,350 square feet logistics property.
“We are pleased with the addition of this logistics infrastructure in Hong Kong. It reflects our team’s ability to source and complete transactions efficiently, and we are well-positioned to continue expanding our business across the region,” said Cao Dong, CEO of JDP.
“We are excited about this institutional-quality property, strategically located in a convenient, last-mile neighborhood. We believe this project will continue to deliver efficient and reliable logistics services to Hong Kong. This investment allows us to benefit from secular growth trends while interest rates are moderating. We will continue to actively explore other opportunities in key markets across Asia Pacific,” commented Richard Law, Head of Asia Pacific at JDP.
About JINGDONG Property, lnc.
JINGDONG Property, Inc. (www.jdp.com.cn) is a leading and rapidly growing modern infrastructure investment and asset management platform of JD.com. Its business includes investment, development and asset management of logistics parks, business parks, data centers and others. As the cornerstone of JD.com’s supply chain ecosystem, JDP is equipped with deep insights into merchandise and logistics flows and has a unique ability to integrate business resources. We are well-positioned to serve consumption-driven demand and transform local economies. Leveraging our core competencies across infrastructure assets, development expertise, service capabilities and actionable insights, we provide bespoke, holistic and intelligent infrastructure solutions, continuously expanding our customer base in third-party logistics, e-commerce, manufacturing, retail, and other new economy industries.
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Questions around this news
What property did JINGDONG Property acquire in Hong Kong?
JINGDONG Property reported completing its acquisition of LiFung Centre, a logistics property in Hong Kong. The release gives the property’s area as 487,350 square feet and describes it as serving a last-mile neighborhood. It does not provide details about the purchase price or the transaction’s other financial terms.
What does JINGDONG Property do?
The release describes JINGDONG Property as an infrastructure investment and asset management platform associated with JD.com. Its activities include investing in, developing and managing logistics parks, business parks and data centers. It also says the company provides infrastructure services to customers in areas including logistics, e-commerce, manufacturing and retail.
What does “last-mile” mean in logistics?
In logistics, the last mile is the final stage of moving goods from a distribution point, such as a warehouse or local facility, to the recipient or delivery location. It can involve storage, sorting and delivery coordination close to customers. The term describes a stage in the supply chain, not a fixed distance.
What expansion plans did the company describe?
JINGDONG Property said it would continue looking for opportunities in key markets across Asia Pacific. The release links the Hong Kong acquisition to its regional expansion, but does not identify specific future markets, projects, timelines or investment amounts. It also notes that the company serves customers across several industries.
