GLP Pre-Leases 49,000 sqm to Leading Express Delivery Providers in Eastern China
GLP has signed pre-lease agreements totaling 49,000 sqm (527,000 sq ft) with two leading express delivery companies in Eastern China. Both customers are existing multi-location customers of GLP.
- Best Logistics and another leading express delivery provider are upgrading to GLP’s modern facilities from their existing warehouses
- Expansion demand from repeat customers is a key driver of GLP’s business
- GLP’s well-located land bank and development capabilities provide modern and flexible logistics solutions for its customers
Singapore, 9 October 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed pre-lease agreements totaling 49,000 square meters (“sqm”) (527,000 square feet (“sq ft”)) with two leading express delivery companies in Eastern China. Both customers are existing multi-location customers of GLP.
The two customers are upgrading to GLP’s modern facilities from their existing warehouses to increase efficiency and service quality. They are currently operating out of older, non-modern warehouses which are unable to keep up with the rising demands driven by domestic consumption and e-commerce.
Kent Yang, President of GLP China, said: “We are excited to increase collaboration with our multi-location customers. Expansion demand from repeat customers is a key driver of our business. GLP’s well-located land bank enables us to meet our customers’ distribution needs in various markets across China. Leveraging our development capabilities, we continue to implement functional improvements that take into account the unique characteristics of our customers’ operations and improve overall efficiency. We look forward to supporting our customers as they continue to grow in China.”
One of the pre-lease agreements was signed with Best Logistics, a strategic partner and one of GLP’s largest customers in China by leased area. GLP’s partnership with Best Logistics now extends to 15 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 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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