GLP Signs 204,000 sqm (2.2 million sq ft) of Leases with 3PL Service Providers
GLP expands partnerships with DHL, Hitachi Transport System, Schenker and AGV Logística with 204,000 sqm (2.2 million sq ft) of leases signed globally.
- GLP expands partnerships with DHL, Hitachi Transport System, Schenker and AGV Logística with 204,000 sqm (2.2 million sq ft) of leases signed globally.
- 3PL service providers servicing demand from pharmaceutical, auto parts and consumer goods industries
Singapore, 16 November 2016 – GLP, the leading global provider of modern logistics facilities, has signed 204,000 square meters (“sqm”) (2.2 million square feet (“sq ft”)) of new and renewal leases with leading global third party logistics service providers across China, Japan, US and Brazil. With these leases, signed in the past three months, GLP strengthens relationships with existing customers including DHL, Hitachi Transport System, Schenker and AGV Logística. The customers are using the facilities for domestic distribution catering to demand from the pharmaceutical, auto parts and consumer goods industries.
Mr. Ming Z. Mei, Chief Executive Officer of GLP said: “The third party logistics industry is the largest customer segment for GLP. Many companies outsource logistics and distribution functions to third party service providers to enhance operational efficiencies. GLP’s modern logistics facilities form an important cornerstone of an efficient distribution network which creates value and delivers higher service quality to our customers.”
The scale and breadth of GLP’s platform generates a “Network Effect” with 50% of GLP’s customers leasing with the Company in multiple locations and 70% of leasing driven by existing customers.
About GLP (www.glprop.com)
GLP is a fund manager, developer and owner-operator of modern logistics facilities. As of 30 September 2016, GLP owns and operates a global portfolio of 52 million square meters (561million square feet) that caters primarily to domestic consumption. GLP’s 4,000 customers include some of the world’s most dynamic manufacturers, retailers and third party logistics companies. GLP’s US$38 billion fund management platform is a key area of growth going forward.
GLP 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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