ProLogis, Dalian Port to develop JV logistics park in Shenyang

GLOBAL logistics real estate developer ProLogis said it would co-operate with Dalian Port Group to develop a new logistics park in Shenyang, Xinhua reported.

The 313,587-square metre logistics park will be developed in three phases that cover buildings with an area of 190,973 square metres. The first phase will be started at the end of this year, the report said.

The logistics park will be operated by Shenyang ProLogis Container Logistics Development Co., Ltd, a joint venture between ProLogis and Dalian Port Group, the report said.

ProLogis will hold 60 per cent in the US$50 million logistics park, while Dalian Port hold the remaining share, the report said.

Meanwhile, another joint venture between ProLogis and Dalian Port in Dalian has been announced, involving the investment of US$40 million to expand two logistics parks in Dalian's Dayaowan port area, the report said.