Keppel Capital Holdings Pte. Ltd. (Keppel Capital) has partnered BLOGIS Holdings Limited (BLOGIS) to acquire the Fund’s first asset, a grade-A high-standard warehouse, located in Dongxihu, Wuhan, China, through its China logistics property fund.

Purchased a 70,000 sq m warehouse in Wuhan serves the sectors of e-commerce, third-party logistics and the cold chain. Following the completion of the transaction, the fund and BLOGIS will continue to jointly invest in a number of investment opportunities in the Yangtze River Delta, the Beijing-Tianjin-Hebei region and other logistics hubs. The aim of the fund is to develop and operate Class A logistics facilities in China's key logistics centers such as Greater Beijing, Greater Shanghai and the Greater Bay Area. Keppel Capital and BLOGIS will manage approximately RMB3,200 million in assets (US$464 million).

Keppel Capital's partnership with BLOGIS and the acquisition will not have a material impact on earnings per share and net tangible assets per share of Keppel Corporation Limited in the current financial year.