JINGDONG Property Continues Global Expansion with Key Overseas Projects

JINGDONG Property, Inc. (“JDP”), a leading and the fast-growing infrastructure investment and asset management platform of JD.com, and EZA Hill Property Management Pte Ltd (“EZA Hill”), a Singapore-based real asset business, successfully completed the joint acquisition of a logistics portfolio from ESR-Logos REIT for a total consideration of approximately SG$350 million including land premium. This represents the first acquisition for both JDP and EZA Hill in Singapore. In conjunction with the investment, JDP and EZA Hill have jointly established Primus Partners Management Asia Pte Ltd (“Primus”), a new operating platform to manage the portfolio.

The investment comprises a portfolio of five high-quality logistics assets totaling 1.9 million square feet of GFA strategically located in the key logistics clusters in Singapore. Primus intends to invest in asset enhancement initiatives that adapt this portfolio of assets to the growing needs of a diversified customer base.

“We are excited about this portfolio acquisition in Singapore and the establishment of a new operating platform. This is an important milestone towards building our business in Asia. Logistics is one of our key investment themes supported by favorable market fundamentals. We will continue to look for value-creation investment opportunities to scale our portfolio in the Asia-Pacific region,” said Richard Law, Head of Asia at JDP.

“Over the past few years, we have been actively acquiring and developing logistics assets within the region. This portfolio represents an attractive opportunity for JDP to further strengthen our foothold in the market. The strategic locations of these assets, coupled with the rising logistics demand, will provide stable and resilient returns to our stakeholders,” commented Kevin Shao, Head of Southeast Asia at JDP.

Frank Ng Tze Wei, Chief Investment Officer at EZA Hill highlighted, “This deal marks an important milestone for EZA Hill, as its first entry to Singapore’s industrial market. It is a testament to the team’s ability to execute sizeable and complex transactions. Over the long term, we believe EZA Hill will be well-positioned to capture the emerging growth taking place in the industrials and logistics markets in Southeast Asia, driven by shifts in manufacturing and industrial activity, and coupled with an undersupply of high-quality, well-located assets.”

About JINGDONG Property, lnc.

JINGDONG Property, Inc. (www.jdp.com.cn) is a leading and the fast-growing 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 in China, Asia and Europe. As the cornerstone of JD.com’s supply chain ecosystem, JDP is equipped with deep insights into merchandise and logistics flows and a distinct ability to integrate business resources. We are uniquely positioned to serve consumption-oriented demand and transform local economies. Leveraging the four pillars of our core competencies of infrastructure assets, development expertise, service capabilities and actionable insights, we provide bespoke, holistic and intelligent infrastructure solutions and have continuously expanded our customer base in the third-party logistics, e-commerce, manufacturing, retail and other new economy industries.

About EZA Hill
EZA Hill is a real estate investment platform (www.ezahill.com) that invests, holds, and develops industrial, logistics, and business park real estate opportunities in Southeast Asia. Leveraging its proprietary industry research and operational expertise, the platform aims to take advantage of the growth potential in Southeast Asia’s real estate market and create value through strategic investments in sustainable and innovative infrastructure solutions. EZA Hill is committed to delivering value and sustainable growth while fostering innovation in the region’s building and infrastructure sectors.