GLP Signs Three Leases Totaling 39,000 sqm (420,000 sq ft) in China

GLP Signs Three Leases Totaling 39,000 sqm (420,000 sq ft) in China

GLP has signed three new lease agreements totaling 39,000 sqm (420,000 sq ft) with three companies across China.

  • 17,000 sqm (183,000 sq ft) leased to Vanke, China’s largest residential real estate developer, in Xi’an, Midwestern China
  • 12,000 sqm (129,000 sq ft) leased to a leading hypermarket chain in Suzhou, Eastern China
  • 10,000 sqm (108,000 sq ft) leased to ANE Logistics, in Suzhou, Eastern China

 

Singapore, 3 March 2014 – Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed three new lease agreements totaling 39,000 square meters (“sqm”) (420,000 square feet (“sq ft”)) with three companies across China.
 

Kent Yang, President of GLP China, said: "Sustained growth in consumption and increased outsourcing is driving demand for modern logistics facilities across China. With our unrivalled network and best-in-class facilities and service, we are well-positioned to meet this demand. We are delighted to support our customers as they upgrade and expand their distribution capabilities.” 
 

The following details the new lease agreements:

  • 17,000 sqm (183,000 sq ft) to China Vanke (“Vanke”), at GLP Park Xi’an ETDZ, Xi’an, Midwestern China. Vanke, the largest residential real estate developer in China, will utilize the facilities for storage and distribution of household fixtures and appliances  for its development projects in Xi’an, ensuring on-time construction delivery and product quality. Vanke is listed on the Shenzhen Stock Exchange with stock symbol 000002.SZ.
  • 12,000 sqm (129,000 sq ft) to a leading hypermarket chain in China at GLP Park Wangting in Suzhou, Eastern China. The customer will use the facility for distribution to stores in Suzhou and the surrounding region.
  • 10,000 sqm (108,000 sq ft) to ANE Logistics (ANE) at GLP Park Wangting in Suzhou, Eastern China. ANE is a leading third party logistics (“3PL”) company in China and will use the facilities to establish a regional distribution center mainly serving Suzhou and Wuxi, providing less-than-truckload transportation service to their customers. ANE is a first-time GLP customer.


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.