Three Industry Leaders Expand 69,000 sqm (743,000 sq ft) with GLP In China

Three Industry Leaders Expand 69,000 sqm (743,000 sq ft) with GLP In China

GLP has signed leases totaling 69,000 square meters (“sqm”) (743,000 square feet (“sq ft”)) with three industry leaders in China: JD.com, Best Logistics and STO Express. They will utilize the space to cater to increasing demand driven by growing domestic consumption.

  • GLP signs leases totaling 69,000 sqm (743,000 sq ft) with three industry leaders in China: JD.com, Best Logistics and STO Express
  • Domestic consumption driving demand for GLP’s modern logistics
  • GLP’s flexible network supports customers’ business expansion

 

Shanghai, 23 November 2015 – GLP, the leading global provider of modern logistics facilities, has signed leases totaling 69,000 square meters (“sqm”) (743,000 square feet (“sq ft”)) with three industry leaders in China: JD.com, Best Logistics and STO Express. They will utilize the space to cater to increasing demand driven by growing domestic consumption.
 

All three companies are existing multi-location GLP customers. JD.com and Best Logistics are also GLP’s 10 largest customers by leased area in China.
 

Kent Yang, President of GLP China, said: “We are very excited to further strengthen our relationship with JD.com, Best Logistics and STO Express. Growth in domestic consumption is driving the demand for GLP’s modern logistics facilities in the market. Our unrivaled network supports our customers’ expansion plan across China and drives value creation.”

About GLP (www.glprop.com)

GLP is the leading global provider of modern logistics facilities. The Company develops, owns and manages a 48 million square meters1 (521 million square feet) portfolio of logistics facilities across China, Japan, Brazil and USA that cater to domestic consumption. GLP’s 4,000 customers include some of the world’s most dynamic manufacturers, retailers and third party logistics companies. Fund management is an important and growing part of GLP’s business, providing significant capital to support sustainable long-term growth, while enhancing returns on GLP’s invested capital. The Company’s total portfolio assets are valued at US$33 billion1.

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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1 Pro-forma figures based on GLP’s reported financials as of 30 September 2015