Global Logistic Properties Leases 23,000 sqm (248,000 sq ft) in China
GLP has signed two new lease agreements totaling 23,000 sqm (248,000 sq ft) with two leading 3PL providers in China. The customers are strengthening their distribution capabilities in Central and Northern China amid increasing demand from the consumer goods industry.
- Two leading 3PL providers in China have leased 23,000 sqm (248,000 sq ft) to meet increased demand from consumer goods industry
- New customer relationships for GLP
- GLP’s network and scale provides flexibility for customers to expand according to their growth plans
Singapore, 17 July 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed two new lease agreements totaling 23,000 square meters (“sqm”) (248,000 square feet (“sq ft”)) with two leading third-party logistics (“3PL”) providers in China. The customers are strengthening their distribution capabilities in Central and Northern China amid increasing demand from the consumer goods industry.
Kent Yang, President of GLP China, said: “We are very pleased to welcome these new customers. Sustained retail sales growth continues to drive demand for our properties in China. Modern logistics facilities are a critical part of the supply chain as they can help companies reach their customers in the most efficient and cost-effective way. GLP’s unrivaled national network positions us well to capture the significant opportunities in the China logistics industry.”
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties Limited (“GLP”) is the leading provider of modern logistics facilities in China, Japan and Brazil. Our property portfolio of 25 million square meters (269 million square feet) is strategically located across 63 cities, forming an efficient logistics network serving 700 customers. We are dedicated to improving supply chain infrastructure for the world’s most dynamic manufacturers, retailers and third party logistics companies. Domestic consumption is a key driver of demand for GLP.
The Group is listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX stock code: MC0.SI; Reuters ticker: GLPL.SI; Bloomberg ticker: GLP SP).
GLP Investor Relations & Media Contact:
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.com
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