Euromoney's Liquid Real Estate Magazine Names ProLogis Best Developer in China
LONDON, Sept. 26 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has been named "Best Developer in China" by Euromoney's Liquid Real Estate magazine, a leading publication focused on international real estate financial markets.
The company received the designation as part of the Euromoney Liquid Real Estate awards, which are given to developers, lenders, advisory firms, investment banks, investment managers and property management firms across a variety of regional categories. Winners were nominated via a poll of 570 professionals in the real estate and finance industries.
"We're extremely gratified to receive this recognition, especially since it is based on the judgment of peers and other professionals involved in global real estate," said Jeff Schwartz, ProLogis chairman and chief executive officer. "It is testament to the talent and hard work of our entire China organization, which continues to build a leadership position for ProLogis in key distribution markets across the country."
ProLogis entered China in 2004 and today has secured land positions representing $1.9 billion in total potential investment in the country's key coastal and inland markets. The company had 12.7 million square feet (1.2 million square meters) of industrial space in operation or under development as of June 30, 2007. ProLogis' major customers in China include adidas, Best Buy, DHL, L'Oreal, Menlo Worldwide, Nokia, NYK, Samsung, UPS and Yum! Brands.
Ming Mei, president of China operations for ProLogis, accepted the Euromoney Liquid Real Estate award on the company's behalf last night at the third annual awards banquet in London. Mei said the Chinese market continues to offer enormous opportunity for providers of high-quality industrial facilities.
"Modern warehouses in the right locations will play a critical role in improving China's overall distribution infrastructure," Mei said. "We are focused on building a portfolio that will enable our customers to increase the efficiency of their supply chains, and on lowering the overall cost of distribution nationwide. We're extremely pleased to receive this honor from Euromoney's Liquid Real Estate, and look forward to continued growth and success in the Chinese market."
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 105 markets across North America, Europe and Asia. The company has $29.9 billion of assets owned, managed and under development, comprising 446.9 million square feet (41.5 million square meters) in 2,523 properties as of June 30, 2007. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs more than 1,300 people worldwide. For additional information about the company, go to http://www.prologis.com.
Released September 26, 2007