GLP Signs 25,000 sqm (269,000 sq ft) Agreement with Deppon Logistics in China

GLP Signs 25,000 sqm (269,000 sq ft) Agreement with Deppon Logistics in China

GLP has signed a build-to-suit agreement with Deppon Logistics for a 25,000 sqm (269,000 sq ft) distribution center in Greater Xiamen, Southern China. Deppon Logistics will use GLP Park Jinjiang to enhance its distribution capabilities in Greater Xiamen and surrounding cities.

  • Deppon Logistics, a leading third-party logistics company in China, establishing distribution center at GLP Park Jinjiang in Greater Xiamen, Southern China
  • Strong demand driven by growing domestic consumption and e-commerce
  • Further growth in repeat business with existing GLP customers; GLP has scale and resources to help customers accelerate network expansion

 

Singapore, 9 June 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed a build-to-suit (“BTS”) agreement with Deppon Logistics for a 25,000 square meters (“sqm”) (269,000 square feet (“sq ft”)) distribution center in Greater Xiamen, Southern China.
 

Deppon Logistics will use GLP Park Jinjiang to enhance its distribution capabilities in Greater Xiamen and surrounding cities. Deppon Logistics is one of GLP’s largest customers by leased area, using GLP facilities in 17 locations across China.
 

Kent Yang, President of GLP China, said: “Supply of modern logistics space in China remains limited, even as rising domestic consumption and e-commerce fulfillment continues to drive strong demand. GLP’s extensive national network of premium locations and expertise in building design and development puts us in a strong position to provide high-quality facilities that can drive value for our customers. We look forward to supporting our customers as they continue to grow in China.”
 

Cui Weixing, Chairman of Deppon Logistics, said: “GLP understands our business. Their network of premium locations enables us to rapidly expand our distribution capability while their best-in-class facilities and service increase our operating efficiency. We will continue to collaborate with GLP as we grow in China.”
 

GLP Park Jinjiang is adjacent to the Jinjiang High Speed Rail Station. The park consists of four warehouses with a total leasable area of 76,000 sqm (818,000 sq ft).



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 25 million square meters (272 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.