Mitsui O.S.K. Lines Invests in Highly Automated Warehouse Development “OMEGA 1 Singapore” with CapitaLand
Mitsui O.S.K. Lines, Ltd. (MOL) has invested in the development of a highly automated logistics facility, “OMEGA 1 Singapore,” to be built in Singapore’s western Jurong Industrial Estate, in partnership with the Singapore-based real estate giant CapitaLand Group. The project represents the third investment through the CapitaLand SEA Logistics Fund, in which MOL participated in November 2024. Completion is scheduled for 2028, with total development costs of approximately SGD 260 million (JPY 312 billion).
The property will be a five-story, multi-level ramp-up warehouse featuring a cargo storage zone with a 40-meter (approx. 131 ft.) clear-height atrium. The facility will incorporate state-of-the-art automation technologies, including automated storage and retrieval cranes, automated racking systems, and automated guided vehicles (AGVs). With a Gross Floor Area of approximately 21,500 tsubo (approx. 765,000 sq. ft.), the warehouse will be capable of accommodating roughly 60,000 pallets. The project aims to achieve Singapore’s Building and Construction Authority Green Mark GoldPlus certification, underscoring a strong focus on environmental sustainability. Taiwan-based Ally Logistic Property is expected to lease the entire building under a master lease agreement.
Under its long-term management plan, “BLUE ACTION 2035,” the MOL Group is strengthening stable, non-shipping revenue businesses that are less exposed to volatility in maritime markets. Investment in logistics real estate is positioned as a key growth pillar. In November 2024, MOL committed approximately JPY 15.0 billion to the CapitaLand SEA Logistics Fund, acquiring a 32.5% equity stake. The fund is currently developing “OMEGA 1 Bang Na” in Bangkok, Thailand, with a Gross Floor Area of approximately 57,500 tsubo (approx. 2,046,000 sq. ft.), making the Singapore project its third investment. Leveraging the international logistics network cultivated through its shipping business, MOL plans to further expand logistics infrastructure across Southeast Asia.
CapitaLand Group, MOL’s partner, is one of Asia’s largest real estate companies, headquartered in Singapore. As of the end of 2024, the group had assets under management of approximately SGD 117 billion (JPY 13 trillion) and operates across more than 270 cities in 45 countries worldwide.
Key Facts
Property Name: OMEGA 1 Singapore
Owner / Sponsor: CapitaLand SEA Logistics Fund (with investment participation by Mitsui O.S.K. Lines, Ltd.)
Location: Jurong Industrial Estate, Singapore (19 Gul Lane, Singapore 629414)
Completion: 2028 (scheduled)
Number of Floors: 5F
Gross Floor Area: Approx. 21,500 tsubo (approx. 765,000 sq. ft.)
Clear Height: 40 m (approx. 131 ft., atrium section)
Total Development Cost: Approx. SGD 260 million (JPY 312 billion)
Tenant (planned): Ally Logistic Property (Taiwan)