GLP Leases 96,000 sqm (1 Million sq ft) to Leading 3PLs in China

GLP Leases 96,000 sqm (1 Million sq ft) to Leading 3PLs in China

GLP has signed new lease agreements totaling 96,000 sqm (1 Million sq ft) with leading 3PL companies in China. All three companies are existing GLP customers and are now multi-location customers.

  • 46,000 sqm (495,000 sq ft) leased to Yunda Express, one of China’s largest express delivery companies
  • 32,000 sqm (344,000 sq ft) leased to Gooday Logistics, the logistics joint venture between Haier and Alibaba
  • 18,000 sqm (194,000 sq ft) leased to Best Logistics, a strategic partner of GLP

 

Singapore, 15 April 2014 – Global Logistic Properties Limited (“GLP”), the largest provider of modern logistics facilities in China, Japan and Brazil, has signed new lease agreements totaling 96,000 square meters (“sqm”) (1 million square feet (“sq ft”)) with leading third-party logistics (“3PL”) companies in China. All three companies are existing GLP customers and are now multi-location customers.
 

Kent Yang, President of GLP China, said, “These new agreements underscore the strong demand for modern logistics infrastructure in China. 3PLs are a key customer group for us, driven by the growth in domestic consumption and e-commerce as companies seek to upgrade or outsource their logistics needs. We are pleased to deepen our collaborations with these existing customers and look forward to supporting their growth in China.”
 

The following details the recently signed new lease agreements: 

  • 46,000 sqm (495,000 sq ft) leased to Yunda Express, one of China’s largest express delivery companies, including a 27,000 sqm (291,000 sq ft) build-to-suit (“BTS”) facility at GLP Park Xi’an Airport South in Xi’an, Midwestern China, and a 19,000 sqm (205,000 sq ft) expansion at GLP Park SND in Suzhou, Eastern China. The customer will use the facilities to set up regional distribution centers.
  • 32,000 sqm (344,000 sq ft) leased to Gooday Logistics at GLP Park Beilun in Ningbo, Eastern China. Gooday Logistics is the logistics joint venture between Haier Group,  the global leader in consumer electronics, and Alibaba Group, one of China’s largest e-commerce companies. The customer will use the facility to establish a city distribution center to support rising domestic consumption and e-commerce sales.
  • 18,000 sqm (194,000 sq ft) leased to Best Logistics, a leading 3PL company, at GLP Park Qingdao Airport (West) in Qingdao, Eastern China. GLP will develop a BTS facility for Best Logistics at the park. GLP has established a strategic partnership with Best Logistics to develop a national network in China. Best Logistics now leases 207,000 sqm (2.2 million sq ft) with GLP in 12 cities 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 23.4 million square meters (252 million square feet) is strategically located across 63 cities, forming an efficient logistics network serving 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

## END ##

This press release is not an offer of securities for sale or a solicitation of an offer to purchase securities. The information in this press release may not contain, and you may not rely on this press release as providing, all material information concerning the condition (financial or other), earnings, business affairs, business prospects, properties or results of operations of GLP or its subsidiaries.  Please refer to our unaudited financial statements for a complete report of our financial performance and position. This release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements include statements regarding the intent, belief and current expectations of GLP or its officers with respect to various matters. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should," “intends,” “foresees,” “estimates,” “projects,”  and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Similarly, statements that describe objectives, plans or goals also are forward-looking statements.  Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, availability of real estate properties, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, governmental and public policy changes, and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events and speak only as of the date of this press release. GLP does not undertake to revise forward-looking statements to reflect future events or circumstances. No assurance can be given that future events will occur, that projections will be achieved, or that GLP’s assumptions are correct.