JD Property Funding, Investors & Competitors

JD Property has raised $1.5B across 2 funding rounds, most recently a $800M Series B in March 2022.

Last JD Property funding round

$800M

Series B · Mar 2022

Cumulative funding JD Property raised

$1.5B

across 2 funding rounds

Key investors in JD Property

  • Hillhouse Investment
  • Warburg Pincus

JD Property Overview

About JD Property

JD Property is a Beijing-based infrastructure asset manager and property services provider. The company oversees investments in toll roads, bridges, and urban utilities across China, while delivering facilities management, engineering maintenance, and development services for commercial and residential portfolios.


Founded

2019

HQ

ChinaBeijing

Website

jdp.com.cn

Status

Privately held

Customer focus

B2B

Revenue model

Investment management, Services

JD Property Funding History

JD Property has raised a total of $1.5B across 2 funding rounds.

JD Property's first fundraising round was a $700M Series A in March 2021. The most recent completed round was a $800M Series B in March 2022.

JD Property funding rounds

JD Property funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2022Series BHillhouse Investment (lead); Warburg Pincus (lead)$800MJD Property, a subsidiary of JD.com, is an infrastructure asset management and integrated service platform that invests, develops, and manages logistics infrastructures, manufacturing parks, data centers, and science offices across China, with operations in Europe and Asia. On March 28, 2022, it closed a Series B financing round raising approximately $800 million, co-led by Hillhouse Investment and Warburg Pincus, along with other investors including Hina PE. JD.com retained majority ownership post-round. The funds support business expansion, model transformation, and strengthening infrastructure property management capabilities. This followed a $700 million Series A in March 2021 led by the same investors.
Mar 2021Series AHillhouse Investment (lead); Warburg Pincus (lead)$700MJD Property is the infrastructure asset management and integrated service platform of JD.com, a major Chinese e-commerce company. Established in 2018 to manage JD.com's warehouse portfolio, it invests in, develops, and manages logistics infrastructures, manufacturing parks, data centers, and science offices primarily across 29 core regions in China, with expansion into Southeast Asia, Europe, and other areas like Vietnam, Japan, Indonesia, and the UAE. The company provides integrated solutions for modernized warehousing, intelligent industrial parks, and IDCs, supporting digital intelligent supply chains and the real economy through advanced facilities in manufacturing, medical, urban services, commercial, and digital technology sectors. On March 10-11, 2021, JD Property secured approximately $700 million in non-redeemable Series A preferred share financing co-led by Warburg Pincus and Hillhouse Capital, with other investors. JD.com remained the majority shareholder post-round, positioning JD Property as another unicorn incubated by JD.com. The funds aim to boost business expansion, model transformation, strengthen infrastructure property management capabilities, and solidify its role as a leader in high-quality infrastructure properties development and operations. Investors highlighted JD Property's high-quality portfolio, unique capabilities, strong management team, and growth potential in new economy real estate and infrastructure. At the time, JD Property had launched core logistics funds and debuted its first development fund in Q4 2020 with RMB 3 billion ($461 million) in assets under management, backed by investors like GIC and Mubadala. It managed assets tied to JD Logistics, which held 20 million square meters of warehouses potentially valued at up to $40 billion in a planned $5 billion Hong Kong IPO announced shortly before the funding. Subsequently, JD Property raised an $800 million Series B round also involving Warburg Pincus and Hillhouse, along with other investors, to further expand operations. Later developments include plans for a Singapore REIT with Partners Group and EZA Hill Property (backed by Hillhouse's Rava Partners) potentially valued over $1 billion, and a separate Hong Kong IPO application in March 2023 still pending approval.

Who has invested in JD Property?

2 investors have backed JD Property across its funding rounds, including Hillhouse Investment and Warburg Pincus.

Lead investors include Hillhouse Investment and Warburg Pincus.


JD Property Investors

Investors in JD Property by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by JD Property

JD Property has acquired 1 company to date.

Last acquisition by JD Property was on May 23rd 2022. JD Property acquired China Logistics Property Holdings for $344M.


Latest Acquisitions by JD Property

China Logistics Property Holdings
Description
China Logistics Property Holdings is a provider of logistics infrastructure in China, listed on the Hong Kong Stock Exchange. It develops, leases, and manages modern warehouses in 42 cities, totaling over 5.8 million square meters of gross floor area as of June 2018. Customers include manufacturers, retailers, and third-party logistics firms in eastern and central China.
HQ CountryChina
HQ City
Shanghai
Deal Date23 May 2022
Valuation$344M
EV/Revenue
EV/EBITDA

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JD Property Competitors

JD Property competitors include listed companies like FirstService, Carmila and Shoucheng Holdings, and private ones like Shanghai Taomao, Table Space and HqO.

Public and private companies comparable to JD Property
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
FirstServiceCanadaCanadaPublicly listed$5.5B$525M$6.5B1.5x
CarmilaFranceFrancePublicly listed$610M$318M$2.4B10.8x
Shanghai TaomaoChinaChinaPrivate--$1.3B-
Shoucheng HoldingsChinaChinaPublicly listed$183M$79M$1.2B5.2x
Table SpaceIndiaBangalorePrivate$83M-$550M6.6x
HqOUnited StatesBoston, MAPrivate--$300M-

JD Property Public Comps

JD Property is still privately-owned, but its public comps include Prologis, CBRE, KE Holdings, Swire Properties, Sumitomo Realty & Development, JLL, Vonovia, Swiss Prime Site, CoStar Group and PSP Swiss Property.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Prologis$8.8B$7.4B18.2x18.4x21.7x22.4x
CBRE$41B$2.5B1.2x1.1x19.2x12.9x
KE Holdings$14B$739M1.2x1.3x22.8x12.4x
Swire Properties$2B$152M12.1x10.5x162.2x20.0x
Sumitomo Realty & Development$6.7B$2.6B6.5x6.5x16.9x17.6x
JLL$26B$1.3B0.8x0.7x14.7x11.6x
Vonovia$6B$4.3B3.4x5.2x4.7x6.5x
Swiss Prime Site$676M$502M30.2x32.2x40.7x34.5x

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Common questions about JD Property

When was JD Property founded?JD Property was founded in 2019.
Where is JD Property headquartered?JD Property is headquartered in Beijing, China.
Is JD Property publicly listed?No, JD Property is a private, VC-backed company.
How much funding has JD Property raised?JD Property has raised $1.5B across 2 funding rounds.
What was JD Property's last funding round?JD Property's last funding round was a $800M Series B in March 2022, led by Hillhouse Investment and Warburg Pincus.
Who are JD Property's investors?JD Property's investors include Hillhouse Investment and Warburg Pincus.
Which companies are comparable to JD Property?Companies comparable to JD Property include FirstService, Carmila, Shanghai Taomao, Shoucheng Holdings, Table Space and HqO.
How many companies has JD Property acquired?JD Property has acquired 1 company, including China Logistics Property Holdings.
What was the largest acquisition by JD Property?The $344M acquisition of China Logistics Property Holdings in May 2022 is the largest acquisition JD Property has made to date.

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