Blackstone has acquired a majority stake in Sanha Logistics Park II, a 334,000 square metre dry storage development in South Korea's Seoul Metropolitan Area, through a primary share issuance. ESR will remain an investor and continue managing development and asset operations via ESR Kendall Square. Scheduled for completion in 2028, the strategic project along the Gyeongbu Expressway marks Blackstone's third logistics investment in the country.
Work has officially started on a major AI-ready data centre at Oxagon in NEOM. HUMAIN and DataVolt have partnered to build an initial 100MW phase of a larger 360MW facility on Saudi Arabia's Red Sea coast. Expected to open in 2028, the site combines renewable power, advanced cooling and high-density computing clusters. The project marks the first step in DataVolt's wider plan for a 1.5GW campus.
SEGRO has completed the Barnsteen development at SEGRO Park Amsterdam Airport in Hoofddorp, marking the completion of the park's eastern section. Express logistics operator NACEX by Logista Netherlands has secured 1,404 sq m at Barnsteen 11 on a pre-completion lease. The gas-free facility features dedicated photovoltaic panels and battery storage systems to serve high-demand transport corridors.
Saudi Arabia's Acwa has signed a major deal with Indonesia's state salt firm PT GARAM to build a $400 million integrated facility in East Java. The plant will process 62,500 cubic metres of desalinated water daily alongside 500,000 tons of high-purity industrial salt per year. The initiative aims to reduce Indonesia's reliance on salt imports while delivering crucial industrial water supplies.
European real estate manager Redevco has acquired a 560,000 sq ft logistics facility in Widnes, Cheshire. Fully let to Jaguar Land Rover and operated by DHL, the 17-acre site supports car manufacturing operations at the nearby Halewood plant. The acquisition expands Redevco’s Industrial Outdoor Storage footprint to 5.2 million sq ft and €155 million in assets under management across 11 regional properties.
KKR and its European logistics platform Mirastar have completed the £170 million acquisition of four UK industrial assets from developer PLP. The 1.25 million square foot portfolio includes properties in Stafford, Crewe, Ellesmere Port and Wakefield. The fully let developments feature rooftop solar panels, high environmental credentials and a weighted average lease term of 10 years to break.
