GLP Leases 46,000 sqm (495,000 sq ft) to Suning in China

GLP Leases 46,000 sqm (495,000 sq ft) to Suning in China

GLP has signed a lease agreement of approximately 46,000 sqm (495,000 sq ft) with Suning Commerce at GLP Park Langfang, Hebei Province, Northern China. Suning is one of China's largest retailers, with a strong online presence.

  • Suning, one of China’s largest retailers, will establish a regional distribution center at GLP Park Langfang, Northern China
  • Facility will support distribution for both e-commerce and retail stores
  • Growth of e-commerce continues to drive demand for GLP’s facilities

 

Singapore, 28 January 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed a lease agreement of approximately 46,000 square metres (“sqm”) (495,000 square feet (“sq ft”)) with Suning Commerce (“Suning”) at GLP Park Langfang, Hebei Province, Northern China. Suning is one of China’s largest retailers, with a strong online presence.
 

Suning will use the facility to establish a regional distribution center serving both Suning.com, Suning’s online shopping mall, and the company’s retail stores in Northern China. 
 

Suning said: “E-commerce is a pillar of our multi-channel strategy, and it is growing rapidly. An efficient logistics network is key to meeting the tremendous increase in volume that we are seeing. GLP has the scale and network to help us expand, ramp-up quickly and support our growth.”
 

Kent Yang, President of GLP China, said: “Suning is a strategic customer for GLP. This cooperation marks an important milestone for our further partnership. We are excited that Suning has positioned GLP as a valued partner, and we look forward to supporting their business growth.”
 

GLP Park Langfang is situated in Longhe Industrial Park, a location that has attracted many leading companies. Strategically located between Beijing and Tianjin, GLP Park Langfang enables customers to efficiently serve both of these major consumption centers. China remains GLP’s primary growth market, with rising demand for modern logistics facilities driven by high rates of domestic consumption, urbanization and e-commerce. 
 

Suning operates a network of 1,600 retail stores in 600 cities across China, Hong Kong and Japan. Suning.com was launched in 2010 and is now China’s fourth largest Business-to-Consumer e-commerce platform. Suning is listed on the Shenzhen Stock Exchange (SZSE: 002024).


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 22.4 million square meters (241 million square feet) is strategically located across 62 cities, forming an efficient logistics network serving more than 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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