The chief logistics and distributions hub for the 2008 Olympics in Beijing will be developed by industrial REIT ProLogis (NYSE: PLD). Earlier today, Beijing’s Olympic Organizing Committee announced that the entire 1.08 million sq. ft. ProLogis Park Beijing Airport industrial park will be used for distribution, warehousing, light assembly and logistics administration for the games. The $43 million industrial park will be built on a site just three kilometers away from the Beijing International Airport.
“The Beijing Olympics are of enormous importance to China, given the huge scale of the event and the prestige that will be conferred on China as host country,” says Ming Pei, ProLogis managing director and head of the firm’s China operations. “From a logistics standpoint, they will also be extremely complex, requiring world-class supply chain operations and a state of the art distribution infrastructure.”
Beijing’s international airport is one of the busiest cargo airports in the world. Roughly 2 million tons of cargo will be transported through the Beijing airport by 2008.