GLP Announces New Leases Totaling 81,000 sqm (872,000 sq ft) in China

GLP Announces New Leases Totaling 81,000 sqm (872,000 sq ft) in China

GLP has signed new lease agreements totaling 81,000 sqm (872,000 sq ft) with five leading companies in the retail, e-commerce and 3PL industries.

  • GLP has signed new agreements totaling 81,000 sqm (872,000 sq ft) with five industry leaders in China including Best Logistics and Jumei
  • Robust growth of consumer goods, e-commerce and third-party logistics service driving demand for GLP’s modern logistics facilities

 

Singapore, 23 July 2015 – GLP, the leading global provider of modern logistics facilities, has signed new lease agreements totaling 81,000 square meters (“sqm”) (872,000 square feet (“sq ft”)) with five leading companies in the retail, e-commerce and third-party logistics (“3PL”) industries.

All of the customers are using the facilities for domestic distribution amid fast growing sales of consumer goods. With these leases, GLP strengthens relationships with existing customers including Best Logistics and establishes relationships with new customers including Jumei.

Kent Yang, President of GLP China, said: “We are excited to establish and further extend our relationships with these customers. As sales of consumer goods continues to rise in China, e-commerce and 3PL companies are driving demand for GLP’s modern logistics facilities in premium locations.We look forward to supporting our customers as they continue to expand in China.”

GLP is a leading global provider of modern logistics facilities. As of 31 March 2015, GLP’s US$28 billion property portfolio encompasses 41 million square meters (441 million square feet) of logistics facilities across China, Japan, Brazil and the United States.

GLP remains focused on being the best operator in each of its markets, creating value through developments and expanding its fund management platform. GLP’s customers include some of 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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