Leading E-Commerce Company Expands 21,000 sqm (226,000 sq ft) With GLP In China

Leading E-Commerce Company Expands 21,000 sqm (226,000 sq ft) With GLP In China

GLP has signed expansion lease agreements totaling 21,000 sqm (226,000 sq ft) with one of the top three e-commerce companies in China. The new leases are in Chengdu, Midwestern China, and Qingdao, Eastern China.

  • One of GLP’s top tenants in China signs new leases in Chengdu and Qingdao
  • Leading e-commerce company expands distribution capabilities to meet rising domestic consumption demand across China

 

Singapore, 29 August 2013 – Global Logistic Properties Limited (“GLP”), the largest provider of modern logistics facilities in China, Japan and Brazil, has signed expansion lease agreements totaling 21,000 square meters (“sqm”) (226,000 square feet (“sq ft”)) with one of the top three e-commerce companies in China. The new leases are in Chengdu, Midwestern China, and Qingdao, Eastern China.

The customer, one of GLP’s top tenants in China by leased area, operates one of the country’s largest e-commerce platforms, offering an extensive range of products from electronics and home appliances to books and clothing.

Kent Yang, President of GLP China, said: “E-commerce companies are looking for larger, high-quality logistics facilities that enable them to expand their distribution capabilities while improving efficiency. Customers increasingly turn to us as their preferred facility provider because our flexible national network of best-in-class logistics facilities is tailored to meet that exact need.”

Details of the two expansion lease agreements are as follows:

  • 11,000 sqm (118,000 sq ft) at GLP Park CDHT. With this agreement, the company is increasing its leased area at the park to 39,000 sqm (420,000 sq ft). The increased space will help the company meet growing demand in Chengdu and throughout Western China. Situated in the Chengdu Development High-Tech Zone, GLP Park CDHT provides high-quality logistics facilities in a location that has convenient access to several expressways and downtown Chengdu. The park consists of eight buildings offering 86,000 sqm (925,000 sq ft) of high-quality industrial space.
  • 10,000 sqm (108,000 sq ft) at GLP Park Qingdao Airport West. With this agreement, the customer is almost doubling its leased area to 21,000 sqm (226,000 sq ft) at its regional distribution center in Shandong Province, Eastern China, home to a population of close to 100 million. Located in Qingdao Liuting International Airport Industrial Zone, GLP Park Qingdao Airport (West) has access to an excellent transportation network with comprehensive infrastructure facilities. The park consists of nine buildings offering 83,000 sqm (895,000 sq ft) of high-quality industrial space.



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 21.4 million square meters (230 million square feet) is strategically located across 66 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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