JD Property

What JD Property does

JD Property (京东产发) is the logistics and industrial infrastructure development and management platform majority-owned (approximately 75%) by JD.com, headquartered in Beijing with operations across 29 Chinese provinces and 10 overseas markets. The company develops and operates modern logistics parks, technology industrial parks, and AI computing centers using proprietary 'Asia No. 1' (亚洲一号) smart logistics park design standards featuring high-clearance (≥9m), high floor-load capacity (≥3t/sqm), and 11.4-12m column spacing optimized for automated logistics. As of September 30, 2025, JD Property managed 285 infrastructure assets with RMB 121.5 billion (USD 17 billion) in total AUM.

The company runs an asset-light, vertically integrated business model spanning three revenue streams: (1) leasing of modern logistics and industrial facilities to enterprise clients via direct B2B sales and BTS (Build-to-Suit) customization, (2) fund management fees from 7 logistics infrastructure private equity funds and 1 REIT (JD REIT, 508098.SH, China's first privately-owned logistics warehouse REIT listed on February 2023), and (3) REIT distribution income. It serves automotive manufacturers (BMW, Li Auto (理想汽车), BYD (比亚迪), Leap Motor (零跑汽车)), express delivery firms (JDL/Jingdong Logistics (京东物流), SF Express (顺丰速运), Yunda Express (韵达快递), ZTO Express (中通快递), Deppon (德邦快递)), e-commerce platforms (TikTok (抖音), Shein (希音), Alibaba, Meituan, Pinduoduo), retailers (IKEA (宜家), Yonghui Superstores (永辉超市)), 3PL providers (Annto (安能物流), China Post Express (中国邮政速递)), and cold chain/pharmaceutical clients (Shuhai (蜀海), Tastien (泰森), Shanghai Pharmaceuticals (上海医药)).

JD Property's technology stack centers on an IMC (Intelligent Management Control) system providing centralized monitoring, smart gate access, energy data collection, and security across the portfolio, complemented by IoT-based carbon emissions monitoring, rooftop photovoltaic systems targeting 1000MW capacity, and an AI Computing Center product line. The company is in the process of filing for a Hong Kong IPO (January 2026, second attempt), pursuing a Singapore REIT IPO targeting approximately S$1 billion, and pursuing USD 7.6 billion unicorn valuation with 20% average annual revenue growth (21% YoY in 9M2025 reaching RMB 3 billion) and 77% YoY adjusted net profit growth (RMB 823 million in 9M2025).

Name

JD Property

Legal name

JD Property (京东产发)

Website

https://jdp.com.cn

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

501–1,000 employees

Short description

JD Property (京东产发) is a JD.com majority-owned Chinese logistics and industrial infrastructure asset manager operating 285 assets across China and 10 overseas markets with USD 17 billion AUM. It develops smart logistics parks and AI computing centers, manages logistics infrastructure funds and China's first private warehouse REIT, and leases facilities to enterprise clients across automotive, e-commerce, and express delivery sectors.

Ownership category

akta.pro rank

Product category

Logistics Infrastructure Real Estate

NAICS

Real Estate Property Managers (53131), Rental and Leasing Services (532), Offices of Real Estate Agents and Brokers (531210)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Industrial & Logistics Real Estate Asset Management (BPAJAMAC)

akta.pro secondary industries

Warehousing & Logistics Facilities Brokerage (BPAJACAA), Industrial & Logistics Brokerage (BPAJABAC), Property Management Advisory & Leasing Administration (FSAEAJAN)

Keywords

• Logistics infrastructure
• Warehouse leasing
• Industrial park development
• REIT management
• Build-to-suit solutions

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Infrastructure

Revenue model

1. Asset Management & Leasing: JD Property generates primary revenue through leasing modern logistics and industrial properties to enterprise clients. Revenue of RMB 3 billion reported in first nine months of 2025, representing 21% year-on-year growth.
2. Fund Management Fees: JD Property manages 8 private equity/infrastructure funds with undisclosed management fees. Since 2019, the company has established 7 logistics infrastructure funds and 1 REIT, generating fee income from fund management services to institutional partners.
3. REIT Distribution Income: JD Property receives distributions from the JD REIT (508098.SH), China's first private logistics warehouse REIT listed on Shanghai Stock Exchange since February 2023, containing assets in Chongqing, Wuhan, and Langfang totaling approximately 351,000 sqm.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

JD Property develops, leases, and asset-manages modern logistics parks, technology industrial parks, and AI computing centers under its proprietary "Asia No. 1" smart logistics park design standards. The company generates revenue through direct enterprise Build-to-Suit (BTS) leasing, custom high-spec warehouse leasing, private equity infrastructure fund management (8 funds), and its JD REIT (508098.SH) public market vehicle, serving enterprise clients across automotive, e-commerce, express delivery, 3PL, retail, and cold chain/pharmaceutical sectors.

Product overview

JD Property (京东产发) operates as a comprehensive infrastructure asset management and industrial development service platform, providing a multi-product portfolio centered on intelligent logistics parks, technology industrial parks, and AI computing centers. The platform offers integrated services including development & construction (with proprietary Asia No.1 design standards), asset operations management, and private equity fund management. The company also manages Jingdong REIT (508098.SH), China's first private enterprise warehouse logistics public REITs. As the foundation of JD.com's supply chain system, the platform manages 285 infrastructure assets across 29 Chinese provinces and 10 overseas countries/regions, with RMB 121.5 billion (USD 17 billion) in AUM as of September 2025.

Differentiator

Problem solved

Functional benefit

Brands

• JD REIT: 嘉实京东仓储物流封闭式基础设施证券投资基金 (508098.SH), China's first privately-owned logistics warehouse REIT, listed on Shanghai Stock Exchange in February 2023, holding three logistics parks in Chongqing, Wuhan, and Langfang with total GFA of ~350,995 sqm.
• 亚洲一号 (Asia No. 1)
• JD Property Private Infrastructure Funds
• JD Private Fund (私募基金)
• 智能物流园 (Smart Logistics Park)
• 科技产业园 (Technology Industrial Park)
• 智算中心 (Intelligent Computing/Data Center)

Products and services

• Intelligent Logistics Park (智能物流园) Modern logistics infrastructure leveraging JD's digital supply chain to create high-efficiency logistics hub networks with smart management systems, serving enterprise clients needing distribution centers.
• Technology Industrial Park (科技产业园) Multi-functional industrial park development and operation serving digital economy transformation, covering core cities in Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macao Greater Bay Area clusters.
• AI Computing Center (智算中心) Global competitive AI computing infrastructure providing full lifecycle solutions from data center site selection, customized development, green energy integration to smart operations management.
• Development & Construction (开发建设) Infrastructure engineering design and construction services including proprietary 'Asia No.1' smart logistics park design standards and BTS (Build-to-Suit) custom solutions for enterprise clients.
• Asset Operations (资产运营) Full lifecycle asset management solutions including pre-development consulting, value assessment, engineering, project consulting, and property management for logistics and industrial infrastructure.
• Private Equity Infrastructure Funds (私募基金) Value-oriented private equity fund platform offering institutional investors diversified investment opportunities in logistics infrastructure, with 7 logistics infrastructure funds and 1 REIT established since 2019.
• JD REIT (京东REIT / 508098.SH) Jingdong Warehouse Logistics Closed-End Infrastructure Securities Investment Fund (508098.SH) — China's first private enterprise warehouse logistics public REIT, holding three logistics parks in Chongqing, Wuhan, and Langfang with total GFA of approximately 350,995 sqm.

Quantifiable outcome

• 20% average annual revenue growth; 77% year-on-year profit growth in first nine months of 2025
• +4 more outcomes

Named customers21 records

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered minor and core.

• LEJU ROBOTminorStrategic or Co-development Partner · 22 May 2026LEJU ROBOT signed a strategic partnership with JD Property to collaborate on embodied AI development, focusing on post-training ecosystems, industrial data acquisition, intelligent solutions, and talent cultivation centered around a robot-focused industrial park. The collaboration includes plans for robot leasing and recycling industry investments to foster diversified business synergy in the embodied AI sector.
• EZA Hill Property Management Pte LtdcoreStrategic or Co-development Partner · 31 March 2026EZA Hill Property Management, backed by Hillhouse, is a co-sponsor of JD Property's Singapore REIT IPO with Partners Group and JD Property. EZA Hill brings local market expertise for Southeast Asian logistics asset management and operations.
• MODON (Saudi Authority for Industrial Cities and Technology Zones)coreStrategic or Co-development Partner · 26 November 2025JD Property signed MoU with MODON to develop 2 million sqm of industrial and logistics assets in Saudi Arabia, with the first pilot project in Jeddah Industrial City. The partnership also includes a logistics facility in Riyadh within the Special Integrated Logistics Zone, supporting Saudi Vision 2030 and focusing on high-quality, sustainable infrastructure.

Scale indicators11 records

Recent moves9 records

Expansion highlights7 records

Broad incumbents

• Prologis: Prologis is the world's largest logistics REIT, offering a comparable scale of industrial real estate ownership, development, and fund management that contextualizes JD Property's ambition to expand globally.
• Goodman Group: Goodman is a global industrial real estate specialist operating logistics, business park, and data center assets, with an integrated fund management model similar to JD Property's BTS + fund management approach.
• China Resources Land: China Resources Land is a major diversified Chinese property developer with industrial and logistics components; its scale and capital access provide a benchmark for domestic real estate competition.

Direct peers

• ESR Group: ESR is a leading Asia-Pacific logistics and data center real estate platform with a comparable fund management and REIT structure, competing directly with JD Property's pan-Asia logistics strategy.
• Mapletree Logistics Trust: Mapletree is a Singapore-listed logistics REIT with a pan-Asian portfolio; JD Property's planned Singapore REIT IPO directly competes for the same pool of institutional capital and Southeast Asian assets.
• GLP (Global Logistic Properties): GLP is one of the world's largest logistics real estate operators and fund managers, directly comparable to JD Property's logistics park development, leasing, and asset management business across China and globally.
• SF Holding (SF Real Estate): SF Holding operates logistics parks and warehousing infrastructure as part of its express delivery ecosystem, comparable to JD Property's express delivery tenant base and BTS solutions for logistics hubs.
• Cainiao Smart Logistics Network: Cainiao, Alibaba's logistics network, develops and operates logistics infrastructure and warehousing parks in China and overseas, directly competing with JD Property for e-commerce-driven logistics demand.

Emerging players

• Summit Industrial Income REIT: Summit is a Canadian industrial REIT; while geographically distinct, its focus on high-quality logistics and light-industrial assets parallels JD Property's BTS industrial park strategy in product positioning.

Regional players

• CapitaLand Logistics REIT: CapitaLand Logistics Trust is an Asia-focused logistics REIT with assets across China, Japan, Singapore, and Australia; comparable to JD Property's geographic mix and REIT-driven capital structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/jingdong-property

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about JD Property