SC Capital Partners, headquartered in Singapore, has made a joint acquisition of a 50,000 sq m (538,196 sq ft) industrial land plot in the Suzhou Industrial Park in China alongside Shanghai-based industrial and logistics developer THi Holding Management Corp. The two partners are planning to convert the Marina Gardens Condo industrial land into a Grade-A industrial facility, targeting high-end manufacturers.
When completed, the facility will provide a net lettable area of over 103,000 sq m (1.1 million sq ft) with solar panels installed on its rooftop. An electric vehicle battery company company, Zero Point, has already committed to the project as its anchor tenant.
Chairman and Founder of SC Capital Partners, Suchad Chiaranussati, said that the transaction strengthens the partnership between the two companies in exploring development opportunities in the Yangtze River Delta region. He added that the new asset in Suzhou Industrial Park would be an excellent addition to its opportunistic funds, which were specifically created to invest in well-developed markets in Asia Pacific.
Sarah Hu, THi Management’s Director and General Manager, believes that demand for regional industrial and logistics assets will remain intact. According to her, strategic partnerships, with players that have connections and expertise in the local landscape, become increasingly necessary for successful investment strategies.