To cater to its expanding e-commerce logistics business and the growing market, Singapore Post (SingPost) is investing about S$182 million to develop a three-storey eCommerce Logistics Hub in Tampines LogisPark.
The company said in a statement on Tuesday (Oct 14) that the e-commerce logistics market in Asia Pacific is estimated to grow to more than US$175.24 billion by 2016, and the new logistics hub will have a fully-automated parcel sorting facility and two modern warehousing floors.
It will also include an adjoining eight-storey office block to house SingPost’s local and regional logistics operations – Quantium Solutions, Singapore Parcel and Lock+Store. SingPost says the development will be built on a 3.25-hectare plot of land leased from JTC Corporation for 30 years.
Dr Wolfgang Baier, Group Chief Executive Officer of SingPost said: “I expect our new facility will, in turn, further boost Singapore’s aspiration to be the region’s e-commerce hub. It will also enable SingPost to offer very cost-efficient fully integrated e-fulfilment solutions to our customers in a scalable manner.”
Construction of the 553,000 square feet eCommerce Logistics Hub is expected to be completed by end January 2016 and fully operational in the second half of 2016.
Source : Channel NewsAsia – 14 Oct 2014