GLP Leases 23,000 sqm (248,000 sq ft) to Leading 3PLs in China

GLP Leases 23,000 sqm (248,000 sq ft) to Leading 3PLs in China

GLP has signed two new lease agreements totaling 23,000 sqm (248,000 sqft) with two leading 3PL providers in China. The customers are strengthening their distribution capabilities in Central and Northern China amid increasing demand from the consumer goods industry.

  • GLP has signed agreements totalling 23,000 sqm (248,000 sq ft) with Best Logistics and another third-party logistics provider in China
  • Increasing expansion of organized retail and e-commerce continue to drive demand for GLP’s modern logistics facilities in China
  • GLP’s unrivalled network provides flexible solutions to customers in their business expansions across China

 

Singapore, 11 June 2014  – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed new lease agreements totaling 23,000 square meters (“sqm”) (248,000 square feet (“sq ft”)) with two leading third-party logistics (“3PL”) providers in China including Best Logistics, a strategic partner and one of GLP’s largest customers by leased area in China.
 

Kent Yang, President of GLP China, said: “Our customers focus on domestic consumption, which is driving a continued trend for the build-out of store networks and supply chains to support rising retail sales across China. GLP’s unrivalled national network provides flexible logistics solutions to customers. We look forward to supporting the customers in optimizing their distribution networks as they continue to grow in China.”
 

Johnny Chou, President and CEO of Best Logistics, said: “We are excited to further extend our relationship with GLP. Their network and high-quality facilities provide us with strong support in our business expansion into strategic locations. With this partnership, we look forward to further accelerating our business growth in China.”
 

GLP Park Jinjiang is adjacent to the Jinjiang High Speed Rail Station. The park consists of four warehouses with a total leasable area of 76,000 sqm (818,000 sq ft).



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 25 million square meters (272 million square feet) is strategically located across 63 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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