GLP Leased 112,000 sqm in China To A Leading Global E-Commerce Retailer

Singapore, 2 February 2012 - Global Logistic Properties Limited (“GLP”), the market leader in modern logistics facilities in China and Japan, today announced that it has leased a 91,000 square metre fulfillment centre in Tianjin, China for a leading global e-commerce retailer. The project, GLP Park Wuqing, is strategically located between Beijing and Tianjin and enjoys convenient access to other key cities in Northern China.  

GLP Park Wuqing is the fifth collaboration between GLP and the customer and will be its largest fulfilment centre in Northern China when fully complete. The facility will serve as the main distribution centre for Northern China of this global e-commerce retailer.

 “China and Japan’s e-commerce market has entered a period of high speed growth. Lack of modern logistics facilities has become a bottleneck for many e-commerce firms’ growth. As a result we are seeing strong demand for modern logistics facilities from our clients across our portfolio and very proud to supply our high quality facilities and total logistics solutions to them,” said Mr. Ming Z. Mei, Chief Executive Officer of GLP.

Kent Yang, Managing Director of GLP China said: “This project is a testament to the great partnership between our customer, GLP and Tianjin Wuqing Government. With more companies moving their operations outside of Beijing to reduce costs, it is increasingly difficult to secure large scale logistics sites. We are therefore very appreciative of the Tianjin Wuqing Government’s support in providing the large land site for GLP Park Wuqing. Our ability to deliver consistent and comprehensive services has helped us to cement one of the closest corporate relationships in China. With the largest network of modern logistic facilities in China, GLP is well positioned to support our customers’ growth in the future.” 
 

The customer has also recently signed two other leases GLP Park SEDA and GLP Park Suzhou, comprising 21,000 square meters. Together with the 91,000 square metres at GLP Park Wuqing, these leases will almost double the customer’s leased area to GLP.

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 380 completed properties in 133 logistics parks spread across 28 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 on 18 October 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