GLP Leases 49,000 sqm (527,000 sq ft) to Three Leading E-Commerce Companies in China

GLP Leases 49,000 sqm (527,000 sq ft) to Three Leading E-Commerce Companies in China

GLP has signed new lease agreements totalling 49,000 sqm (527,000 sq ft) with three leading e-commerce companies in Eastern and Northern China. The customers are setting up new distribution centers driven by business expansion.

  • GLP signs new lease agreements totaling 49,000 sqm with three leading e-commerce companies in China
  • Domestic consumption and e-commerce are the new key drivers for China’s economy
  • GLP’s unrivaled national network enables companies to rapidly scale up distribution capability, while focusing on their core businesses

 

Singapore, 28 August 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed new lease agreements totalling 49,000 square meters (“sqm”) (527,000 square feet (“sq ft”)) with three leading e-commerce companies (“the customers”) in Eastern and Northern China. The customers are setting up new distribution centers driven by business expansion. Two of the agreements were signed with existing customers of GLP.
 

Kent Yang, President of GLP China, said: “Domestic consumption and e-commerce are the new key drivers for China’s economy. In providing modern, strategically located distribution facilities, GLP provides the essential logistics infrastructure to enable this growth. Given the asset-light nature of e-commerce companies, many of our customers still prefer to outsource their hardware logistics. We are pleased to add value for our customers and look forward to supporting them as they continue to grow across China.”

 


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 27 million square meters (290 million square feet) is strategically located across 76 cities, forming an efficient logistics network serving almost 800 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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