One of the core cities within the Yangtze River Delta Economic Zone with GDP growth of 10.98% in 2017, Hangzhou – known as China's e-commerce capital – clocked in a double-digit e-commerce growth of 40% alone last year.
SINGAPORE (Mar 19): Hangzhou, where Alibaba’s global HQ is located, could see an increase in demand for warehouse facilities investment given the city's direct exposure to China's booming online shopping sector, says Phillip Capital.
This would spell good news for EC World REIT (ECW), says analyst Tara Wong who recently visited all six of the REIT’s current portfolio assets as well as its two right of first refusal (ROFR) assets in Hangzhou, Zhejiang province.
