GLP Leases 275,000 sqm (3.0 Million sq ft) to Industry Leaders in China

GLP Leases 275,000 sqm (3.0 Million sq ft) to Industry Leaders in China

GLP has signed 275,000 sqm (2.0 million sq ft) of new leases in China with four leaders in the e-commerce and auto parts industries. The leases were signed over the past three months and cater to domestic consumption.

  • Expansion demand driven by e-commerce and auto parts
  • GLP expands relationships with two of its largest customers by leased area
  • Multi-location customers leverage GLP’s unrivalled network to strengthen their distribution capability across China

 

Shanghai, 4 May 2017 – GLP, the leading global provider of modern logistics facilities, has signed 275,000 square meters (“sqm”) (3.0 million square feet (“sq ft”)) of new leases in China with four leaders in the e-commerce and auto parts industries. The leases were signed over the past three months and cater to domestic consumption. With these leases, GLP expands its relationships with four multi-location customers including two of its largest customers by leased area in China.


The following details the new lease agreements:

· 222,000 sqm (2.4 million sq ft) to two leading e-commerce companies in Eastern China

· 53,000 sqm (570,000 sq ft) to two auto related companies across three locations in China

About GLP (www.glprop.com)

GLP owns and manages a global portfolio of 54 million square meters, with dominant market positions in China, Japan, US and Brazil. Domestic consumption is a key driver of demand for GLP. The Company is one of the world’s largest real estate fund managers, with assets under management of US$38 billion.


GLP 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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