GLP Commences Construction of BuiltToSuit Healthcare Logistics Facility
GLP today announced that it has begun construction of a dedicated healthcare distribution centre in Hangzhou, China, for one of the largest global logistics companies.
- Development marks first outsourced logistics facility for the pharmaceutical industry in China
- Facility is designed to be one of the most advanced of its kind in China, providing optimised logistics and distribution capabilities
Singapore, 11 October 2011 - Global Logistic Properties Limited (“GLP”), the market leader in modern logistics facilities in China and Japan, today announced that it has begun construction of a dedicated healthcare distribution centre in Hangzhou, China for one of the largest global logistics companies. The healthcare distribution centre marks the first outsourced logistics facility development of the pharmaceutical industry in China and the first pharmaceutical Build-to-Suit (“BTS”) project for GLP in China.
The 27,000 square metres facility is expected to cost approximately US$21 million and is one of the most advanced facilities of its kind in China designed to provide an optimised logistics and distribution platform. The end user is a leading global healthcare manufacturer. The facility has been leased under a long-term lease agreement and returns are estimated to be in-line with GLP’s development yields in China. The facility is designed to meet the special requirements of the pharmaceutical sector including temperature controlled facilities and additional power capacity needed for the storage and transportation of pharmaceutical products. This project signifies the first of many outsourced pharmaceutical facilities to be built for multinational corporations in China, creating another avenue of growth for GLP.
This facility is located in GLP Park Linjiang, which is strategically situated in Hangzhou Xiaoshan Linjiang Industrial Zone with close access to key healthcare manufacturing locations, inter-city expressways and Hangzhou airport. The distribution centre is scheduled to be completed by early 2012.
Kent Yang, Managing Director of GLP China said: “GLP has a strong track record of building complex BTS projects where we meet customers’ logistic needs by delivering the right facility in the right place at the right time. The collaboration with our client brings considerable synergies and we will set new standards to support the growth of the pharmaceutical industry in China. We believe GLP’s development solution to capture the outsourcing trend will help our customers focus on their core business.”
GLP has a proven track record of state-of-the-art distribution facilities and the capability to meet its customers’ specific logistic needs across China and Japan. As an expert in the development of state-of-the-art distribution facilities, it establishes a close partnership with its customers in development strategy, site selection, construction, and project management of dedicated distribution facilities according to individual customer’s requirements. It has developed BTS logistic facilities of gross floor area 436,016 square metres across 10 cities in China as of 30 June 2011.
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (GLP) is Asia’s largest provider of modern logistics facilities. It owns, manages and leases out 337 completed properties in 127 logistics parks spread across 27 major cities in China and Japan, 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 the supply chain efficiency for 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 on18October 2010 (Stock code: MC0.SI).
Issued by: Global Logistic Properties Limited
Investor relations & Media Team
Email: investor.relations@glprop.com
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.com
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