Brookfield, the New York–based global investment firm with over $1 trillion in assets under management, has entered into a joint venture with Māori Capital, the investment arm of Hong Kong’s Uni-China Group, to acquire a prime industrial site in Tsing Yi from Swire Properties. The collaboration marks the launch of a new cold storage platform designed to meet the growing demand for temperature-controlled logistics across Asia.
The 246,000-square-foot property, situated in one of Hong Kong’s leading logistics clusters, will be redeveloped into a modern cold storage facility serving both food-grade logistics and pharmaceutical clients. The site will integrate energy-efficient refrigeration, advanced logistics systems, and smart storage solutions tailored to meet the evolving industry’s requirements.
The facility will benefit from direct access to central transportation nodes, including the Kwai Tsing Container Terminals and Hong Kong International Airport. Uni-China’s logistics business has already committed to full occupancy once construction is complete in 2026.
The new Tsing Yi development will serve as the seed asset for the cold storage joint venture between Brookfield and Māori Capital. The partnership combines Brookfield’s global experience in logistics and cold storage infrastructure with Uni-China’s established network in fresh food retail, which includes approximately 1,000 sales points across Hong Kong and mainland China. The JV intends to expand its footprint by pursuing additional investment opportunities in cold storage facilities and related operations throughout the Asia-Pacific region.
Brookfield, one of the world’s most active investors in logistics real estate, manages an industrial portfolio valued at US$26 billion across 190 million square meters globally. Within the Asia Pacific, the firm oversees approximately US$3.5 billion in logistics assets, reinforcing its position as a leading player in the sector.
KEY QUOTES:
“Cold storage is a high-conviction theme for Brookfield, driven by structural shifts in consumption, evolving food logistics requirements and the under-supply of modern temperature-controlled facilities in gateway cities like Hong Kong. The conversion of the Tsing Yi property to a high-spec cold storage facility is in line with Brookfield’s strategy of revitalising underutilised industrial assets across Asia. Partnering with Māori Capital and leveraging Uni-China’s operating footprint creates a powerful combination of institutional capital and local market expertise and we see potential to create a vertically integrated cold chain platform across key urban markets.”
Andrew Burych, Head of East Asia Real Estate, Brookfield
“We see rising demand for quality cold storage in Asia’s growing fresh food retail sector, driven by consumers’ shift towards high-quality products. Our strategic expansion in the cold storage business is set to seize these opportunities. With extensive assets in our diverse business portfolio and over two decades of deep local expertise, we are confident that our increased involvement in cold storage will further strengthen our strategic position as an industry leader.”
Jackie Ling, Chairman, Uni-China Group
“The partnership marks a key step in evolving modern cold chain infrastructure. We look forward to working closely with Brookfield to expanding the JV platform, and leveraging both of our expertise to investing in high-quality assets and businesses related to cold solutions across the region.”
Michael Ling, Managing Partner, Māori Capital
