BAKU: ITOCHU Corporation has inked an agreement with Mitsui Fudosan, forming a strategic alliance in the logistics real estate business, Trend reports citing ITOCHU. This partnership follows the merger of Advance Logistics Investment Corporation (ADL) and Mitsui Fudosan Logistics Park Inc. (MFLP), entities sponsored by ITOCHU and Mitsui Fudosan, respectively. The merger aims to foster a cooperative relationship between the two sponsors, focusing on the joint promotion of real estate development, particularly in logistics and industrial sectors. The alliance comes at a time of sustained growth in third-party logistics (3PL) businesses and robust demand for e-commerce. As industries such as manufacturing and retail seek to streamline logistics operations and restructure supply chains, the need for advanced logistics facilities is projected to rise steadily. Leveraging its extensive sales channels and logistics networks, ITOCHU has successfully developed numerous multitenant and build-to-suit (BTS) logistics facilities in Japan under its flagship brand, i Missions Parks (IMP). Mitsui Fudosan, Japan's leading real estate developer, has also made significant strides in logistics facility development both domestically and internationally with its flagship brand, MFLP, embracing digital transformation and innovation in the sector. Post-merger, ITOCHU and Mitsui Fudosan will enhance their collaboration in the industrial real estate sector, including logistics facilities, factories, and data centers, by combining their strengths as sponsors of MFLP. This partnership is poised to drive further growth and innovation in logistics real estate development. Source: Trend News Agency