• Multi-story warehouses have succeeded in Asia due to high land and construction costs, small site areas, limited industrial land availability, and the accessibility to serve city center populations.

     

  • Industrial land prices per developable area are approximately six times greater in land-constrained areas than in land-plentiful ones. Hong Kong records the most expensive land price at US$240 per sq. ft., followed by Singapore and Tokyo at US$90 per sq. ft. and US$70 per sq. ft., respectively. China has the cheapest land price at US$15 per sq. ft. in tier-one cities.

 

  • Strong e-commerce growth has contributed to the demand for multi-story warehouses with the transport of goods inside a city becoming more important.

     

  • Australia, China and India are key growth markets for multi-story warehouse development.