GLP Pre-Leases 35,000 sqm (377,000 sq ft) in China to Haier Logistics
GLP has signed a pre-lease agreement with Qingdao Haier Logistics Co., Ltd. for 35,000 sqm (377,000 sq ft) at GLP Park Liantang in Shanghai, Eastern China. Haier Logistics will use the facilities as its Eastern China regional distribution center to meet rising demand for logistics services from both traditional retail and e-commerce customers.
- Haier Logistics will set up a 35,000 sqm (377,000 sq ft) regional distribution center at GLP Park Liantang in Shanghai, Eastern China
- GLP and Haier extend their strategic partnership to expand logistics network in China
- Domestic consumption and e-commerce fuel demand for logistics facilities
Singapore, 16 December 2013 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed a pre-lease agreement with Qingdao Haier Logistics Co., Ltd. (“Haier Logistics”) for 35,000 square meters (“sqm”) (377,000 square feet (“sq ft”)) at GLP Park Liantang in Shanghai, Eastern China.
Haier Logistics will use the facilities as its Eastern China regional distribution center to meet rising demand for logistics services from both traditional retail and e-commerce customers. This pre-lease agreement marks the continuation of a strategic partnership between GLP and Haier Logistics. Since the partnership was announced in September 2012, it is the second lease agreement between the two companies. In addition to the new facility in Shanghai, Haier Logistics uses 28,000 sqm (301,000 sq ft) at GLP Park Jiaonan in Qingdao.
Kent Yang, President of GLP China, said: “We are pleased to build on our partnership with Haier Logistics in China. This lease shows how the strength of our network and our site selection capabilities lead to optimal solutions for our customers. We are dedicated to creating value for our customers, and we will continue to support Haier’s business.”
Haier Logistics said: “Lack of modern logistics facilities in China is an industry challenge. Because of their extensive network, GLP enabled us to secure large-scale, state-of-the-art facilities in a high-demand location and ramp up quickly. As our business continues to grow, we look forward to extending our partnership.”
GLP Park Liantang is located in Shanghai Qingpu Liantang Industrial Park, an important manufacturing base in Shanghai. With convenient access to several highways, such as Huqingping highway and G318 expressway (Shanghai-Tibet) in the north, G60 expressway (Shanghai-Hangzhou) in the south, GLP Park Liantang is an ideal choice for regional distribution in Eastern China.
Haier Group is the world’s number one major appliances brand, as ranked by Euromonitor International 2012, and a global leader in consumer electronics. Haier Group employs more than 80,000 employees around the world and distributes products in more than 100 countries and regions with global revenues reaching US$25.8 billion in 2012. It is listed on the Hong Kong (HGK: 1169) and Shanghai (SHA: 600690) stock exchanges.
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties Limited (“GLP”) is the largest provider of modern logistics facilities in China, Japan and Brazil. Our property portfolio of 22.4 million square meters (241 million square feet) is strategically located across 62 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
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