GLP Leases 44,000 sqm in Eastern China
Singapore, 13 December 2012 – Global Logistic Properties Limited (“GLP”), one of the world’s largest providers of modern logistics facilities, with a market leading presence in China, Japan and Brazil, today announced that it has recently signed new leasing agreements totalling approximately 44,000 square metres (“sqm”) (474,000 square feet (“sq ft”)) in Eastern China.
“We are excited to maintain the strong leasing momentum at our facilities in Eastern China,” said Kent Yang, Managing Director of GLP China. “These new leases, at three separate parks, demonstrate the continuing strong demand for GLP’s modern logistics facilities, as well as our unique ability to serve customers across China.”
The following details the recently signed new lease agreements.
- 19,500 sqm (210,000 sq ft) leased at GLP Park Jiaonan in Qingdao, Shandong Province, to Haier Group (“Haier”), the world’s leading home appliances solutions provider. This follows a strategic partnership agreement signed in September 2012 between Haier and GLP to develop a state-of-the-art logistics network distributing home appliances for Haier, their suppliers and distributors nationally.
- A total of 15,000 sqm (161,000 sq ft) leased to Tingtong Logistics Co. Ltd, a JV company of Itochu Corp, a leading global trading company, and Master Kong Food Co. Ltd., a market leader for instant noodles, tea and bottled water in China. One of the leases signed was a 11,000 sqm (118,000 sq ft) lease agreement at GLP Park HEDA in Hangzhou, Zhejiang Province while the other lease agreement was for 3,500 sqm (38,000 sq ft) at GLP Park Qingdao Airport (East) in Qingdao, Shandong Province.
- 9,500 sqm (102,000 sq ft)leased at GLP Park Laogang in Shanghai to Senlan Environmental Protection (Shanghai) Co. Ltd., a local waste management company, for the expansion of its electronic waste sorting and recycling facility in the region.
GLP Park Jiaonan is the exclusive logistics park in the Qingdao Jiaonan Wangtai Industrial Park. Completed in August 2012, the 80,000 sqm (861,000 sq ft) park comprises three facilities and one container yard.
GLP Park HEDA is a world-class logistics and industrial park spread across a gross floor area (“GFA”) of approximately 99,000 sqm (1,066,000 sq ft) in Hangzhou Economic and Technological Development Area (HEDA). It was completed in 2011.
GLP Park Qingdao Airport (East) is strategically located adjacent to Qingdao Liuting International Airport, with a GFA of 45,000 sqm (484,000 sq ft) spread across four inventory facilities that support airfreight and domestic distribution.
GLP Park Laogang, located in the southern part of Pudong district in Shanghai, consists of nine single-floor inventory buildings with a total building area of 36,000 sqm (388,000 sq ft). It is an ideal base for logistics value adding, product distribution and consolidation activities.
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties ("GLP") is one of the world's largest providers of modern logistics facilities, with a market-leading presence in China, Japan and Brazil. It owns, manages and leases out 505 completed properties in 205 logistics parks spread across 60 cities in China, Japan and Brazil, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres. By providing flexible solutions of Multi-tenant, Build-to-Suit and Sale and Leaseback, GLP is dedicated to improving supply chain efficiency to meet strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Mainboard of Singapore Exchange Securities Trading Limited on October 18, 2010 (Stock code: MC0.SI). (As of Nov. 14, 2012)
Issued by: Global Logistic Properties Limited
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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