GLP Announces New Leases Totaling 153,000 sqm (1.8 Million sq ft) in China

GLP Announces New Leases Totaling 153,000 sqm (1.8 Million sq ft) in China

GLP has signed new leases totaling 153,000 sqm (1.6 million sq ft) with four leading 3PL companies in China. 50% of the new leased space is related to expansion demand from the e-commerce industry, 40% caters to auto parts and 10% is being used to serve cold chain food storage needs. One of the customers is a subsidiary of Sinotrans.

  • GLP signs leases with four third-party logistics companies in China, including a subsidiary of Sinotrans
  • Domestic consumption demand driven by e-commerce, auto and food industries
  • GLP’s high-quality facilities meet customers’ needs for higher logistics efficiency

 

Shanghai, 14 April 2016 – GLP, the leading global provider of modern logistics facilities, has signed new leases totaling 153,000 square meters (“sqm”) (1.6 million square feet (“sq ft”)) with four leading third-party logistics (“3PL”) companies in China. 50% of the new leased space is related to expansion demand from the e-commerce industry, 40% caters to auto parts and 10% is being used to serve cold chain food storage needs. One of the customers is a subsidiary of Sinotrans.
 

Kent Yang, President of GLP China, said: “We are very delighted to extend our partnership with these customers. Domestic consumption drives demand for GLP’s facilities and we continue to see demand from the e-commerce, auto parts and food industries. GLP’s high-quality facilities meet our customers’ needs for maximizing logistics efficiency and we look forward to supporting their continued business growth in China.”

About GLP (www.glprop.com)

GLP is the leading global provider of modern logistics facilities. The Company develops, owns and manages a 50 million square meters1 (538 million square feet) portfolio of logistics facilities across China, Japan, Brazil and USA that cater to domestic consumption. GLP’s 4,000 customers include some of the world’s most dynamic manufacturers, retailers and third party logistics companies. Fund management is an important and growing part of GLP’s business, providing significant capital to support sustainable long-term growth, while enhancing returns on GLP’s invested capital. As of December 31, 2015, GLP’s total owned and managed assets amounted to US$34 billion1.
 

GLP 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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1 Pro-forma figures based on GLP’s reported financials as of 31 December 2015