GLP Extends Relationship with Shanghai Pharma in Beijing
GLP has leased approximately 13,000 sqm (140,000 sq ft) to SPH Keyuan Pharma, a subsidiary of Shanghai Pharma. In January 2010, GLP and Shanghai Pharma signed a strategic partnership agreement in China, and this lease agreement at GLP Park Beijing Airport extends GLP’s relationship with Shanghai Pharma to 36,000 sqm (388,000 sq ft) in four locations.
- Customer’s fourth lease with GLP testament to GLP’s proven expertise within the pharmaceutical industry in China
- GLP Park Beijing Airport is 97% leased
Singapore, 3 June 2013 – Global Logistic Properties Limited (“GLP”), one of the world’s leading providers of modern logistics facilities, with a market-leading position in China, Japan and Brazil, has leased approximately 13,000 square metres (“sqm”) (140,000 square feet (“sq ft”)) to SPH Keyuan Pharma (“the customer”), a subsidiary of Shanghai Pharma.
In January 2010, GLP and Shanghai Pharma signed a strategic partnership agreement in China, and this lease agreement at GLP Park Beijing Airport extends GLP’s relationship with Shanghai Pharma to 36,000 sqm (388,000 sq ft) in four locations across Beijing, Shanghai and Suzhou.
Kent Yang, President of GLP China, said: “Shanghai Pharma is a valued customer and we are pleased to strengthen our relationship with this new lease in Beijing. The pharmaceutical industry requires the highest standards in infrastructure and services and Shanghai Pharma selected GLP Park Beijing Airport for our flexible building design and best-in-class property management services. This agreement also serves to reinforce GLP’s positive outlook for Beijing’s logistics facility sector.”
Shanghai Pharma is a leading developer, manufacturer, distributor and retailer of pharmaceuticals, vaccines, medical devices, equipment and other health supplies. The customer is investing in cooling and insulation equipment and installing an automated forklift system to meet the special storage and distribution requirements of pharmaceutical products.
GLP Park Beijing Airport is strategically located adjacent to Beijing Airport cargo terminal and close to several expressways, including Beijing Airport Highway No.1, No.2 and North Line, as well as Jingcheng Highway. It offers customers an excellent location for both airport-based logistics and domestic distribution throughout Beijing and Northern China. Following the signing of this agreement, GLP Park Beijing Airport is 97% leased.
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (“GLP”) is one of the world’s leading providers of modern logistics facilities, with a market-leading position 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 almost 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, Company registration number: 200715832Z).
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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