GLP to Develop BMW Brilliance Automotive's Largest Distribution Center in China
GLP has signed an agreement with BMW Brilliance Automotive Ltd. to develop their largest distribution center in China. The 75,000 sqm (807,000 sq ft) built-to-suit facility at GLP Park Lingang in Shanghai will be developed in phases, with the first phase comprising 55,000 sqm (592,000 sq ft) GFA to commence construction this year.
- 75,000 sqm (807,000 sq ft) build-to-suit facility at GLP Park Lingang will be BMW Brilliance Automotive’s largest distribution center in China
- Construction of the first phase comprising 55,000 sqm (592,000 sq ft) to commence in 2013
Singapore, 10 July 2013 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed an agreement with BMW Brilliance Automotive Ltd. (“the customer”) to develop their largest distribution center in China. The 75,000 sqm (807,000 sq ft) built-to-suit facility at GLP Park Lingang in Shanghai will be developed in phases, with the first phase comprising 55,000 sqm (592,000 sq ft) GFA to commence construction this year.
Kent Yang, President of GLP China, said: “We are delighted that BMW Brilliance Automotive has chosen to partner with GLP to develop its largest distribution center in the country. The customer already uses our facilities through other suppliers and we are excited to further strengthen our relationship. The auto parts industry is a key driver of demand for us, thanks to strong domestic consumption, and now represents 9% of our total leased area in China.”
Christian Mueck, Vice President – Aftersales of BMW Brilliance Automotive commented: “With BMW Brilliance Automotive’s dynamic growth in China, we need a very strong logistics network and we value working with trustworthy and reliable partners like GLP. I am particularly happy with the further enhancement of our relationship to build a state-of-the-art distribution center in Shanghai which will become the largest in Asia when it is finished.”
GLP Park Lingang is a comprehensive logistics park with a total GFA of 545,000 sqm (5.9 million sq ft) spread across three square kilometres. In addition to supporting third party logistics providers and shipping companies operating in the vicinity of Yangshan Deep Water Port, the modern facilities provided by GLP Park Lingang serve as an excellent location for regional distribution. It has convenient access to Pudong International Airport, Hongqiao Airport and Shanghai CBD. In addition, The Lingang Highway connects the park to Zhejiang Province in the South and to Jiangsu Province in the West.
BMW Brilliance Automotive Ltd. is a joint venture between BMW and Brilliance Auto, focused on the production, distribution and sale of BMW passenger cars in mainland 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 21 million square meters (226 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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