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Goodman's Flagship Pudong International Airport Facility Opened by NSW Premier

SHANGHAI, CHINA -- (Marketwired) -- 04/10/14 -- Goodman Group ("Goodman" or "the Group"), the integrated property group which owns, develops and manages industrial space, today held a grand opening ceremony for the second phase of Goodman Pudong International Airport Logistics Park. Mr Barry O'Farrell, Premier of New South Wales ("NSW"), Australia and Mr Ma Xueliang, Pudong Free Trade Zone Senior Director, opened the second phase of the flagship logistics park as part of Australia China Week celebrations.

Phase II of Goodman Pudong International Airport Logistics Park has a total gross leasable area of 57,000 sqm, with Shanghai Rokin Logistics, a logistics provider for cold storage and chemical industries, and Atlas Copco, a world leading provider of industrial productivity solutions among the flagship property's customers.

Strategically located adjacent to the Airoprt's third runway, which is designated for airfreight use, Goodman Pudong International Airport Logistics Park is an award-winning development comprising three phases of two storey ramp-up warehouse facilities. The development will have a combined 196,000 sqm of prime logistics space on completion in the second half of 2015, with a value of around US$ 200 million. It recently won the Annual Magnolia Award for Construction Quality, which is regarded as Shanghai's most prestigious construction industry award.

Mr Philip Pearce, Goodman's Managing Director Greater China, said, "We are honoured to welcome NSW Premier, Mr Barry O'Farrell, Mr Ma Xueliang, Pudong Free Trade Zone Senior Director, and other distinguished guests to mark this important milestone in the development of our business in China. We are extremely proud of our flagship property, which sets the standard for the quality of warehousing facilities in China."

"We are continuing to expand our footprint in China, with around 600,000 sqm of development underway in key cities including Shanghai, Tianjin, Chengdu, Langfang, Changzhou, Hefei, Nanjing and Chongqing. With our existing landbank and properties under development, we have the ability to increase the size of our portfolio by a further 3.3 million sqm. We are on track to grow our investment in China to more than US$ 3 billion in the the next 3 to 4 years."

Mr Barry O'Farrell, NSW Premier, who is in China to promote NSW as part of Australia's largest ever business trade mission said, "I'm pleased to be opening this facility, which shows Goodman Group's success in China and the strength and appeal of NSW business investment and expertise."

"Goodman Group's operations in Shanghai reflect the wider efforts of NSW exporters to build and develop closer links with the Chinese economy. It's great to see Australian businesses flourishing abroad and the NSW Government is assisting companies such as Goodman Group to expand internationally. We are working with NSW-based companies to help them overcome the legal and cultural obstacles that can slow down the process of establishing themselves abroad," Mr O'Farrell said.

Goodman Pudong International Airport Logistics Park Phase I reached completion in August 2012, and is occupied by customers including Kuehne + Nagel, Richemont, Ferrari Logistics and Tigers. The construction of Phase III is set to commence later this month, and is expected to provide 95,000 sqm of prime warehousing space.

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About Goodman

Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe, the United Kingdom North America and Brazil. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest industrial property group listed on the Australian Securities Exchange and one of the largest listed specialist fund managers of industrial property and business space globally.

Goodman's global property expertise, integrated own+develop+manage customer service offering and significant fund management platform ensures it creates innovative property solutions that meet the individual requirements of its customers, while seeking to deliver long-term returns for investors.

For more information please visit www.goodman.com

Wayne Huang
General Manager Operations, China
Tel + 86 21 6133 2014

Citigate Dewe Rogerson
Grace Xu
Associate Director
Tel +86 21 5353 0303 / 136 5183 8486

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