GLP Commences Development of GLP Park Cajamar in São Paulo

GLP Commences Development of GLP Park Cajamar in São Paulo

GLP has capitalized on market conditions to acquire an attractively-located land parcel in Cajamar, São Paulo. The strategic development site is fully permitted and expected to provide 76,000 sqm (818,000 sq ft) of high quality logistics space upon its completion by March 2016 (4Q FY2016).

  • GLP capitalizes on market opportunities to acquire strategic development site in supply-constrained sub-market in São Paulo, Brazil
  • GLP Park Cajamar to provide 76,000 sqm (818,000 sq ft) of high quality logistics space upon its expected completion by March 2016
  • Continued solid leasing demand for GLP’s well-located modern logistics facilities, with Brazil stabilized logistics portfolio 97% leased

 

Singapore, 13 April 2015 - Global Logistic Properties Limited (“GLP”), the leading global provider of modern logistics facilities, has capitalized on market conditions to acquire an attractively-located land parcel in Cajamar, São Paulo. The strategic development site is fully permitted and expected to provide 76,000 square meters (“sqm”) (818,000 square feet (“sq ft”)) of high quality logistics space upon its completion by March 2016 (4Q FY2016).
 

Mauro Dias, President of GLP Brazil, said, “We are pleased to capitalize on current market conditions to secure this prime development site. São Paulo and Rio de Janeiro continue to see healthy demand for modern logistics facilities driven by a lack of supply and ongoing supply chain reconfiguration. We have a strong leasing pipeline for São Paulo and we look forward to adding GLP Park Cajamar to our portfolio.”
 

GLP Park Cajamar is a development under GLP Brazil Development Partners I. The project is strategically located in the Cajamar region, one of the most important logistics sub-markets in São Paulo. According to CBRE, almost half of the net absorption in the first nine months of 2014 was in the Cajamar region, largely driven by a lack of quality logistics space in the greater São Paulo area. GLP Park Cajamar is 30km from metropolitan São Paulo, with access to the São Paulo Ring Road and is close to the Anhanguera and Bandeirantes highways that lead to population centers in interior Brazil. GLP Cajamar will complement GLP’s existing stabilized logistics portfolio in Brazil which is 97% leased.

 

About Global Logistic Properties (www.glprop.com)

Global Logistic Properties Limited (“GLP”) is a leading global provider of modern logistics facilities. As of 31 December 2014, GLP’s US$19 billion property portfolio encompasses 29 million square meters (312 million square feet) of logistics facilities across China, Japan and Brazil. In February 2015, GLP established immediate scale in the United States with the acquisition of an US$8.1 billion portfolio.
 

GLP’s growth strategy is centered on being the best operator, 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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