GLP Leases 22,000 sqm to Yixun.com in China

GLP Leases 22,000 sqm to Yixun.com in China

GLP has signed a lease agreement with Yixun.com, a leading e-commerce company in China. The lease, totalling 22,000 sqm (237,000 sq ft) is at GLP Park Jiangxia in Wuhan, Central China. Yixun.com has chosen GLP Park Jiangxia because of the park’s proximity to downtown Wuhan and superior accessibility to customers across Central China.

  • GLP establishes new customer relationship with Yixun.com, a leading e-commerce company in China
  • The customer will set up a 22,000 sqm (237,000 sq ft) distribution center at GLP Park Jiangxia in Wuhan, Central China

 

Singapore, 11 September 2013 – Global Logistic Properties Limited (“GLP”), the largest provider of modern logistics facilities in China, Japan and Brazil, has signed a lease agreement with Yixun.com (“the customer”), a leading e-commerce company in China. The lease, totalling 22,000 square meters (“sqm”) (237,000 square feet (“sq ft”)) is at GLP Park Jiangxia in Wuhan, Central China. 

Yixun.com has chosen GLP Park Jiangxia because of the park’s proximity to downtown Wuhan and superior accessibility to customers across Central China.

Kent Yang, President of GLP China, said: “We are excited to have Yixun.com as a new customer. This demonstrates how GLP is broadening and deepening the desirability of our solutions and services among e-commerce customers. We look forward to further strengthening our ability to serve Yixun.com and support their expansion across our network.”

Yixun.com commented: “With its large population and advanced economy, Wuhan is a key market for us. This project marks the first milestone in our cooperation with GLP. We look forward to leveraging GLP’s strong network to help us expand our business throughout China.”

Yixun.com is a subsidiary of Tencent Holdings Limited, China’s largest listed internet company by market capitalization (HKEX: 700). Yixun.com ranks among the top five business-to-consumer (“B2C”) e-commerce companies in China. The company is growing rapidly, with sales nearly tripling from RMB 2.4 billion in 2011 to RMB 6.8 billion in 2012, and targeted to increase to RMB 12–15 billion in 2013 . The company sells a variety of products online including computers, digital products, home appliances, clothing, food and personal care products. 

Located in Wuhan, one of the most important transportation hubs and economic centers in Central China, GLP Park Jiangxia has excellent access to well-developed transportation infrastructure connecting to the surrounding local manufacturing bases and consumption centers. Conveniently located near the 3rd Ring Road and Outer Ring Expressway in Wuhan, GLP Park Jiangxia is an ideal location for third party logistics companies, manufacturers and retailers.

 

About Global Logistic Properties (www.glprop.com)
Global Logistic Properties Limited (“GLP”) is the largest provider of modern logistics facilities in China, Japan and Brazil. Our property portfolio of 21.4 million square meters (230 million square feet) is strategically located across 66 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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