GLP Leases 20,000 sqm (215,000 sq ft) to Suning in China

GLP Leases 20,000 sqm (215,000 sq ft) to Suning in China

GLP has signed a new lease agreement of 20,000 sqm (215,000 sq ft) with Suning Commerce, one of China’s largest retailers and e-commerce companies, in Southern China. Suning will use facilities at the park, which is 100% pre-leased, to cater to e-commerce customers across Southern China.

  • GLP leases 20,000 sqm (215,000 sq ft) to Suning, one of China’s largest retailers and e-commerce companies,in Southern China
  • E-commerce driving demand for high-quality logistics facilities
  • Multi-location customers leverage GLP’s unrivaled network to strengthen distribution capability

 

Singapore,12 January 2015– Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed a new lease agreement of 20,000 square meters (“sqm”) (215,000 square feet (“sq ft”)) with Suning Commerce (“Suning”), one of China’s largest retailers and e-commerce companies, in Southern China.Suning will use facilities at the park, which is 100% pre-leased, to cater to e-commerce customers across Southern China.

Kent Yang, President of GLP China, said: “We are excited to expand our partnership with Suning. We are seeing strong demand from customers in multiple locations and GLP’s network of high-quality facilities creates value by enabling customers to seamlessly expand their distribution capabilities and improve operational efficiency. We look forward to deepening our collaboration with Suning as they continue to grow in China.”

About Global Logistic Properties (www.glprop.com)

Global Logistic Properties Limited (“GLP”) is a leading global provider of modern logistics facilities. As of 30 September 2014, GLP’s US$20billion property portfolio encompasses 28million square meters (301million square feet) of logistics facilities across China, Japan and Brazil. 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.In December 2014, GLP announced its entry into the United States via its best-in-class fund management platform. The transaction is expected to be completed in the first quarter of 2015.

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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