Singapore's GIC buys logistics assets from Daiwa House in Japan
04/12/2023 08:07
SINGAPORE, Dec 4 (Reuters) - Singapore sovereign wealth
fund GIC GIC.UL said on Monday it has acquired two logistics
facilities developed by Japanese real estate company Daiwa House
Industry 1925.T in Japan.
GIC did not disclose the value of the acquisition in its
statement.
The assets are located in Takatsuki city in Greater Osaka
and Tosu city in Greater Fukuoka and completed in 2023 and 2021
respectively, GIC said.
GIC, an investor in Japan for more than three decades, has
bought a number of logistics facilities developed by Daiwa House
in Japan this year.
In July, it announced the purchase of a warehouse located in
Yatomi city in Greater Nagoya from Daiwa House.
GIC said the latest acquisition reflected its "continued
commitment to Japan and the logistics sector with trends such as
e-commerce and supply chain optimisation supporting demand".
(Reporting by Yantoultra Ngui; Editing by Sohini Goswami)
((Yantoultra.Ngui@thomsonreuters.com;))