GLP Announces New Leases Totaling 78,000 sqm (840,000 sq ft) in China
GLP has signed two new agreements totaling 78,000 sqm (840,000 sq ft) in Eastern and Northern China. The customers are using the facilities to support distribution needs for e-commerce and retail stores.
- GLP leases 78,000 sqm (840,000 sq ft) in Eastern and Northern China including:
－67,000 sqm (721,000 sq ft) to large international fashion retailer
－11,000 sqm (118,000 sq ft) to leading smartphone manufacturer
- GLP Park Shihudang in Shanghai, Eastern China, is 100% leased upon completion
Singapore,1 December2014– Global Logistic Properties Limited (“GLP”), the leading provider of modern logistics facilities in China, Japan and Brazil, has signed two new agreements totaling 78,000 square meters (“sqm”) (840,000 square feet (“sq ft”)) in Eastern and Northern China. The customers are using the facilities to support distribution needs for e-commerce and retail stores.
With the signing of the new leases, GLP has established a new customer relationship with a large international fashion retailer, while strengthening its relationship with a leading smartphone manufacturer.
Kent Yang, President of GLP China, said: “Increasing expansion of organized retail and e-commerce continue to drive demand for GLP’s modern logistics facilities in China. Our customers focus on domestic consumption. These leases highlight how customers from a wide variety of industries can leverage our network to increase their logistics efficiency. We look forward to supporting our customers’ further business expansion in China.”
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 of28million square meters (301million square feet) is strategically located across 77 cities, forming an efficient logistics network serving more than 800 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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