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Goodman leads Central Eastern European expansion from Budapest
15-05-2008 real estate development/Goodman International source: PeppeR
Goodman (ASX: GMG), the integrated global property group which owns, develops and manages industrial and office space, today officially announced in Budapest its development plans in Central Eastern Europe. The expansion in the area is lead from its Budapest office.

Expansion in Central Eastern Europe

Goodman is an integrated property group that owns, develops and manages industrial and business space globally. The group invests in business parks, office parks, industrial estates and warehouse and distribution centres. It also offers a range of listed and unlisted property funds, giving investors access to its specialist services and property assets.

With total assets of 21.3 billion Euro (appr. 5.500 billion HUF) and 650 properties under management, Goodman is one of the world's largest listed property groups. The group has more than 1,300 staff spread over 37 offices in 18 countries. In Europe, Goodman has offices in the UK, Germany, the Netherlands, Belgium, Luxembourg, France, Spain, Italy, Turkey, Poland, Czech Republic and Hungary.

Today Goodman officially announced in Budapest its development plans for the Central Eastern European market. With robust economic growth, strong consumer spending and still rising industrial activity, Goodman sees ample growth opportunities in the area. Demand for high-quality warehouse space is outstripping supply, labour is competitive compared to Western Europe and the legal systems are reliable and uncomplicated. The region also benefits from an excellent geographic location.

In an initial stage, Goodman will be focusing on the development of high-quality warehouses in Hungary, Czech Republic, Romania and Slovakia. Zsombor Török, Country Manager Central Eastern Europe, commented: "International logistics players and manufacturers continue to relocate logistics and production facilities to Central Eastern Europe. We are pleased to respond to the strong demand for high-quality warehouse space with Goodman's integrated customer service offering."

Goodman in Hungary

Goodman's expansion plans in the area will be lead from the head office for Central Eastern Europe in Budapest. Hungary's strategic location along the favoured logistics corridors and its neighbouring 7 other countries makes it an attractive Central European hub in the long term and a strategic operating base for the area.

Goodman is currently developing a 22,000 sqm warehouse in Gyál, one of the logistics hot spots in the Budapest area. The flexible and high-quality facility is strategically located at the junction of the M0, the ring road around Budapest, and Highway M5, connecting Budapest with the south-east of Hungary and Romania, Serbia and the Balkans. The Gyál project will be available for rent in Q1 2009.

In 2006 Goodman offered a 23,610 sqm warehouse solution for Bertrans, one of Hungary's dominant logistics service providers in Hungary, in Kecskemét. The solution comprised a sale-and-lease-back operation and the development of a 10,000 sqm new, high-quality warehouse. Goodman took over Bertrans' existing logistics park on a 44,000 sqm plot of land in Kecskemét. This solution allowed the logistics service provider to place its property off-balance while remaining in the same premises. At the same time, Goodman acquired a 20,000 sqm plot of land next to the existing logistics park and developed a new 10,000 sqm warehouse with 165 sqm of office space built to suit Bertrans' logistics and business needs and to support Bertrans' successful business growth.

Following a successful 23,000 sqm sale-and-lease-back project that Goodman realized for leading logistics service provider HOPI in Hungary in 2007, Goodman is now developing a 16,000 sqm solution for them in the Bratislava area in Slovakia. The project forms part of Goodman's 180,000 sqm logistics centre in Senec, Slovakia's major distribution hub housing international key logistics players. The 180,000 sqm logistics centre offers warehouse and office space suitable for warehousing, distribution and light production facilities. Next to the HOPI warehouse, Goodman is currently building three speculative warehouse units for multi-client use. On completion of Phase I in August 2008, the combined 30,000 sqm will comprise a 28,816 sqm warehouse with 1,280 sqm of office space and 300 sqm of technical rooms.

"We are convinced that our unique own-develop-manage business model provides us a key to success in this region. As long-term owners of our logistics assets, our customers enjoy the financial security of an off-balance deal. They also have the assurance that our properties are developed and maintained to an excellent standard. We take off the load, they do not need to deal with management of their property, which lets them focus on their core business." - added finally Zsombor Török.

Notes for editors:

About Goodman Group (ASX: GMG)

Goodman Group is an integrated property group with operations throughout Australia, New Zealand, Asia, Europe and the United Kingdom.

Goodman Group, comprised of the stapled entities Goodman International Limited and Goodman Industrial Trust, has a market capitalisation of approximately 5.1 billion Euro (approximately A$ 8.4 billion - as at 31 December 2007), making it the largest industrial property group listed on Australian Stock Exchange and the second largest listed specialist fund manager of industrial and business park assets globally.

Goodman's integrated own-develop-manage customer service philosophy ensures its customers receive an end-to-end solution to their property requirements. With more than 1,300 staff and 37 offices in 18 countries, Goodman has the global reach to meet customers' needs as their businesses expand or evolve. In Europe, Goodman has offices in the UK, Germany, the Netherlands, Belgium, Luxembourg, France, Spain, Italy, Turkey, Poland, Czech Republic and Hungary.

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