GLP Leases 48,000 sqm (520,000 sq ft) in China

GLP Leases 48,000 sqm (520,000 sq ft) in China

GLP has leased 48,000 sqm (520,000 sq ft) to a leading global automotive manufacturer at GLP Park Lingang in Shanghai, China. With this new lease, the customer has doubled its leased area with GLP at the same park to cater to increasing domestic consumption.

  • A leading global automotive manufacturer expands 48,000 sqm (520,000 sq ft) at GLP Park Lingang in Shanghai
  • Domestic consumption demand driven by auto industry
  • GLP’s best-in-class facilities support customers to improve logistics efficiency

 

Shanghai, 16 February 2016 – GLP, the leading global provider of modern logistics facilities, has leased 48,000 square meters (“sqm”) (520,000 square feet (“sq ft”)) to a leading global automotive manufacturer at GLP Park Lingang in Shanghai, China. With this new lease, the customer has doubled its leased area with GLP at the same park to cater to increasing domestic consumption.
 

Kent Yang, President of GLP China, said: “We are very delighted to sign this new lease. China became the world’s second-largest vehicle market in 2015 and we continue to see demand for modern logistics facilities from auto industry. With our strong logistics network and scale, GLP is well positioned to support our customers to pursue their strategic expansion plans and higher logistics efficiency.”
 

GLP Park Lingang is a comprehensive logistics park with a total GFA of 850,000 sqm (9.1 million sq ft). In addition to supporting companies operating in the vicinity of Yangshan Deep Water Port, the modern facilities provided by GLP Park Lingang serve as an excellent location for regional distribution. It has convenient access to Pudong International Airport, Hongqiao Airport and Shanghai CBD. In addition, The Lingang Highway connects the park to Zhejiang Province in the South and to Jiangsu Province in the West.

About GLP (www.glprop.com)

GLP is the leading global provider of modern logistics facilities. The Company develops, owns and manages a 50 million square meters1 (538 million square feet) portfolio of logistics facilities across China, Japan, Brazil and USA that cater to domestic consumption. GLP’s 4,000 customers include some of the world’s most dynamic manufacturers, retailers and third party logistics companies. Fund management is an important and growing part of GLP’s business, providing significant capital to support sustainable long-term growth, while enhancing returns on GLP’s invested capital. The Company’s total portfolio assets are valued at US$34 billion1.
 

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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1 Pro-forma figures based on GLP’s reported financials as of 31 December 2015