GLP Announces New Leases Totaling 110,000 sqm (1.2 Million sq ft) in China

GLP Announces New Leases Totaling 110,000 sqm (1.2 Million sq ft) in China

GLP has signed eight new lease agreements totaling 110,000 sqm (1.2 million sq ft) across China. All of the leases announced are being signed to expand customers' domestic distribution capabilities. Seven of the leases were signed with first-time GLP customers.

  • 81,000 sqm (872,000 sq ft) leased to six third-party logistics providers including Deppon Logistics
  • 29,000 sqm (312,000 sq ft) leased to two manufacturers including Hyundai Mobis
  • Strong domestic consumption continues to drive leasing demand

 

Singapore, 9 January 2014 – Global Logistic Properties Limited (“GLP”), the largest provider of modern logistics facilities in China, Japan and Brazil, has signed eight new lease agreements totaling 110,000 square meters (“sqm”) (1.2 million square feet (“sq ft”)) across China. All of the leases announced are being signed to expand customers’ domestic distribution capabilities. Seven of the leases were signed with first-time GLP customers.
 

Kent Yang, President of GLP China, said: "Domestic consumption is strong and is reflected in the growth of a wide variety of industries - from automotive and home appliances to packaged foods. We are pleased that our network of modern logistics facilities continues to support China’s economic transformation, attracting new customers while satisfying the needs of our existing ones. We look forward to helping our customers increase their logistics efficiency in the future. ” 

 
The following details the new lease agreements:

  • 16,000 sqm (172,000 sq ft) to Deppon Logistics, China’s leading integrated logistics provider, at GLP Park Yangzhou ETDZ in Yangzhou, Eastern China
  • 10,000 sqm (108,000 sq ft) to Hyundai Mobis, the parts and services arm for Hyundai Motor Company, at GLP Park Qihe in Greater Jinan, Eastern China
  • 19,000 sqm (204,000 sq ft) at GLP Park Yangzhou in Yangzhou, Eastern China
  • 18,000 sqm (194,000 sq ft) at GLP Park Hefei Hi-Tech in Hefei, Midwestern China
  • 12,000 sqm (129,000 sq ft) at GLP Park Jiangxia in Greater Wuhan, Midwestern China
  • 12,000 sqm (129,000 sq ft) at GLP Park Zhengzhou in Zhengzhou, Midwestern China
  • 12,000 sqm (129,000 sq ft) at GLP Park SND in Suzhou, Eastern China
  • 11,000 sqm (118,000 sq ft) at GLP Park Zengcheng in Greater Guangzhou-Foshan, Southern China

 


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 22.4 million square meters (241 million square feet) is strategically located across 62 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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