GLP Leases 44,000 sqm (474,000 sq ft) to Three Companies in China
GLP has signed three new lease agreements totaling 44,000 sqm (474,000 sq ft) with three companies in China. Two of the agreements are signed with new GLP customers.
- 20,000 sqm (215,000 sq ft) leased to a leading third-party logistics provider (“3PL”) at GLP Park Yantian in Shenzhen, Southern China
- 13,000 sqm (140,000 sq ft) leased to a global electronics manufacturer at GLP Park Waigaoqiao in Shanghai, Eastern China
- 11,000 sqm (118,000 sq ft) leased to one of China’s largest IT service providers at GLP Park Daxing in Beijing, Northern China
Singapore, 3 June 2014 –Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed three new lease agreements totaling 44,000 square meters (“sqm”) (474,000 square feet (“sq ft”)) with three companies in China. Two of the agreements are signed with new GLP customers.
Kent Yang, President of GLP China, said: "We are excited to expand our customer base as more companies recognize the value GLP brings. With our unrivalled network and strategic locations, we are well-positioned to meet increasing demand from 3PLs and manufacturers amid growing domestic consumption and e-commerce. We look forward to supporting our customers as they continue to expand their business in China.”
The following details the new lease agreements:
- 20,000 sqm (215,000 sq ft) leased to a leading third-party logistics provider at GLP Park Yantian, Shenzhen, Southern China. Only three kilometers from Yantian Port in Shenzhen, the park also has convenient access to a network of expressways connecting to major cities in the Pearl River Delta, including Guangzhou, Zhuhai, and Foshan.
- 13,000 sqm (140,000 sq ft) leased to a global electronics manufacturer at GLP Park Waigaoqiao, in Shanghai, Eastern China. The customer will use the facilities to distribute imported electronic components to customers in China. GLP Park Waigaoqiao is located at Waigaoqiao Free Trade Zone, which is part of the Shanghai Free Trade Zone and is close to Waigaoqiao Port. The park provides high-quality logistics facilities for international trade and advanced manufacturing industries in a strategic location that offers preferential policies.
- 11,000 sqm (118,000 sq ft) leased to one of China’s largest integrated IT services providers at GLP Park Daxing in Beijing, Northern China. The customer will use the facilities to serve its customers in the e-commerce and telecommunications industries. GLP Park Daxing is located in Beijing Jingnan Logistics Park, the largest of the four major logistics zones planned by the Beijing Municipal Government. Situated at the intersection of the Beijing-Kaifeng Expressway, Beijing Sixth Ring Road and Beijing-Shenzhen Railway, the park is an ideal choice for distribution in Beijing and the surrounding cities.
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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