Global Logistic Properties Leases 33,500 sqm to Vipshop in China
GLP today announced that it has signed two leases totalling 33,500 sqm (361,000 sq ft) to Vipshop, one of China’s leading e-commerce companies.
Singapore, 17 December 2012 – Global Logistic Properties Limited (“GLP”), one of the world’s leading providers of modern logistics facilities, with a market-leading position in China, Japan and Brazil, today announced that it has signed two leases totalling 33,500 square metres (“sqm”) (361,000 square feet (“sq ft”)) to Vipshop (“the customer”), one of China’s leading e-commerce companies.
Kent Yang, Managing Director of GLP China said: “We are pleased that Vipshop has chosen GLP to support its expansion in China. Increasing numbers of customers are choosing to build their distribution networks with GLP, attracted by our high-efficiency logistics facilities. Demand in China remains strong, supported by domestic consumption and continued growth in the e-commerce sector and we look forward to supporting our customers’ ongoing growth.”
One of the leases signed was for the doubling of space at Vipshop’s Eastern China regional distribution centre in Kunshan, Jiangsu Province, with a new lease of 27,000 sqm (290,000 sq ft) at GLP Park Qiandeng.
The other was a new lease of 6,500 sqm (70,000 sq ft) at GLP Park Daxing in Beijing to fulfil the customer’s distribution requirements in Northern China.
Including an existing 21,500 sqm (231,400 sq ft) leased at GLP Park Sanshan in Foshan, Guangdong Province, Vipshop now occupies a total of 85,000 sqm (915,000 sq ft) with GLP across China.
Vipshop is China’s leading online flash sales retailer, offering popular branded products to consumers throughout China at a significant discount to retail prices. Founded in 2008 and headquartered in Guangdong, Vipshop was listed on the New York Stock Exchange on 23 March 2012.
GLP Park Qiandeng is situated in Kunshan, Eastern China, 30 minutes drive from Shanghai and Suzhou. The park consists of two phases covering a total GFA of 89,000 sqm (958,000 sq ft). The first phase was completed in September 2012 and the second phase is scheduled to be completed in May 2013.
GLP Park Daxing is located in Beijing Jingnan Logistics Park, one of the key logistics bases in Daxing District and comprises five single-storey warehouses with a total GFA of 95,000 sqm (1,023,000 sq ft). The park was completed in September 2011, with a current lease ratio of 94%.
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties ("GLP") is one of the world's largest providers of modern logistics facilities, with a market-leading presence in China, Japan and Brazil. It owns, manages and leases out 505 completed properties in 205 logistics parks spread across 60 cities in China, Japan and Brazil, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres. By providing flexible solutions of Multi-tenant, Build-to-Suit and Sale and Leaseback, GLP is dedicated to improving supply chain efficiency to meet strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Mainboard of Singapore Exchange Securities Trading Limited on October 18, 2010 (Stock code: MC0.SI). (As of Nov. 14, 2012)
Issued by: Global Logistic Properties Limited
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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