GLP Leases 86,900 sqm in China
Singapore, 7 February 2012 - Global Logistic Properties Limited (“GLP” or “the Company”), the market leader in modern logistics facilities in China and Japan, announced that it has recently signed 86,900 square metres of new and expansion leases in its China portfolio. As of 31 December 2011, the Company has achieved a total leased area of approximately 5.8 Million square metres (“sqm”) in China and a completed stabilised logistics properties lease ratio of 91%.
Kent Yang, Managing Director of GLP China said: “The robust leasing momentum is a testament to the great partnerships between our customers and GLP. Our ability to deliver consistent and comprehensive logistics services has helped us cement our close corporate relationships and market leadership in China. With the largest network of modern logistic facilities, GLP is well positioned to support our customers’ growth.”
The following are recently-signed major new lease agreements. All customers cater to domestic demand in China.
· 52,500 sqm leased to Dahang International Transportation, a subsidiary of Hitachi Transport System Ltd, at GLP Tianjin Pujia in Tianjin, Northern China. Situated in Tianjin Xiqing Economic Development Area, the state-of-the-art facilities are positioned to support distribution activities in the region for a world-leading manufacturer of baby care, feminine care and health care products. GLP started providing logistics facilities to Dahang in August 2007 and currently leases a total of 76,896 square meters in six cities. Hitachi Transportation System also leases another 338,827 square metres in Japan from GLP.
· 24,400 sqm leased to Ihush, an online retailer selling discounted branded young fashion, at GLP Park Kunshan in Suzhou, Jiangsu, China. The space serves as a regional distribution centre to facilitate the supply chain of the growing e-commerce company.
·10,000 sqm pre-leased to Deppon Logistics, a leading domestic third-party logistics provider (“3PL”), for its regional distribution centre in Northeast China. The customer will occupy the space at GLP Park Hunnan in Shenyang, Liaoning Province in May 2012 when construction is scheduled to be completed. Deppon Logistics also expressed interest to add another 5,000-sqm in the same park given the company’s fast-growing business. Since 2007, GLP’s partnership with Deppon Logistics has been extended to ten cities including Shanghai, Hangzhou, Qingdao, Wuxi, Dalian, Chongqing, Guangzhou, Changzhou, Suzhou and Shenyang. Deppon Logistics is GLP’s fifth largest tenant in China leasing 106,235 square metres of space from GLP in China.
In addition, Schenker, Nippon Express, Panalpina, Pantos and Unipart have also signed new or expansion leases with GLP in China. There has been a significant growth 1st and 2nd tier cities which highlights GLP’s strategy to grow its logistics network along with our customers’ expansion across the country.
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About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (GLP) is Asia’s largest provider of modern logistics facilities. It owns, manages and leases out 380 completed properties in 133 logistics parks spread across 28 major cities in China and Japan, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres. By providing flexible solutions of Multi-tenant, Build-to-Suit and Sale-and-Leaseback, GLP is dedicated to improving the supply chain efficiency for strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Mainboard of Singapore Exchange Securities Trading Limited on 18 October 2010 (Stock code: MC0.SI).
Issued by: Global Logistic Properties Limited
Investor relations & Media Team
Email: investor.relations@glprop.com
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.co
