SINGAPORE (Nov 28): EC World REIT’s portfolio of six properties for e-commerce, supply-chain management, and logistics purposes in Hangzhou is well positioned to ride the city’s efforts to develop into China’s hi-tech hub, says KGI Securities.
In an unrated report on Monday, analyst Joel Ng says Hangzhou is one of the largest hubs for e-commerce activity in China, with Alibaba Group headquartered there. According to Ng, the ports are also more resilient, as it caters mainly for internal Chinese demand.
“Our understanding from management is that steel volume going through its ports are expected to grow at around 10% to 20% next year,” says Ng.
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