GLP Leases 48,000 sqm (517,000 sq ft) to Carrefour in China

GLP Leases 48,000 sqm (517,000 sq ft) to Carrefour in China

GLP has signed a new agreement with Carrefour, a leading global retailer, to lease 48,000 sqm (517,000 sq ft) in Midwestern China. Carrefour will use the facilities to enhance its distribution capability in Midwestern and Southwestern China.

  • GLP has leased 48,000 sqm (517,000 sq ft) to Carrefour, a leading global retailer, in Midwestern China
  • New customer relationship established
  • GLP’s high-quality facilities in premium locations enable customers to improve supply chain efficiency

 

Singapore, 23 April 2015 – Global Logistic Properties Limited (“GLP”), the leading global provider of modern logistics facilities, has signed a new agreement with Carrefour, a leading global retailer, to lease 48,000 sqm (517,000 sq ft) in Midwestern China. Carrefour will use the facilities to enhance its distribution capability in Midwestern and Southwestern China.
 

Kent Yang, President of GLP China, said: “We are excited to establish this new partnership with Carrefour. Retailers in China are upgrading and expanding their distribution centers as domestic consumption continues to rise. GLP’s high-quality facilities in premium locations enable our customers to rapidly scale up their distribution capacity and increase efficiency. We look forward to supporting Carrefour as they continue to expand their business.”
 

Carrefour said: “Because of GLP’s comprehensive network, we are able to expand capacity and upgrade the quality of our facilities in an ideal location. The result is increased supply chain efficiency and better service to our stores. We believe the partnership with GLP will support our growth.”


About Global Logistic Properties (www.glprop.com)

Global Logistic Properties Limited (“GLP”) is a leading global provider of modern logistics facilities. As of 31 December 2014, GLP’s US$19 billion property portfolio encompasses 29 million square meters (312 million square feet) of logistics facilities across China, Japan and Brazil. In February 2015, GLP established immediate scale in the United States with the acquisition of an US$8.1 billion portfolio.

GLP’s growth strategy is centered on being the best operator, creating value through developments and expanding its fund management platform. GLP’s customers include some of 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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