GLP Responds to Strong Demand in Xi'An, Signing Two New Leases Totaling 55,000 sqm
GLP has signed two new leases in Xi’an, Northwest China, totalling approximately 55,000 sqm (592,000 sq ft). GLP acquired the land for GLP Park Xi’an Hi-tech in December 2011 and the park is now operational, two months ahead of schedule.
• Project 100% leased upon completion and construction completed two months ahead of schedule
Singapore, 23 October 2012 - Global Logistic Properties Limited (“GLP”), one of the world’s largest providers of modern logistics facilities, with a market-leading presence in China and Japan, today announced that it signed two new leases in Xi’an, Northwest China, totalling approximately 55,000 square metres (“sqm”) (592,000 square feet (“sq ft”)). GLP acquired the land for GLP Park Xi’an Hi-tech in December 2011 and the park is now operational, two months ahead of schedule.
Kent Yang, Managing Director of GLP China, said: “We are excited to announce that in response to strong customer demand, our first development in Xi’an is fully leased upon completion. This highlights the strong market demand, desirability for our facilities and our expertise. This is yet another example of how the breadth of our network allows us to rapidly meet our customers’ needs across China.”
One of the leases signed in Xi’an was a 42,000-sqm (452,000-sq ft) lease agreement to a leading global e-commerce retailer for its regional distribution centre in Northwest China, this tenant has expressed interest to expand further. The other lease agreement was for 13,000-sqm (140,000-sq ft) with one of China’s largest logistics service providers. Both customers lease GLP’s facilities at multiple locations.
GLP Park Xi’an Hi-tech (Phase I) is GLP’s first development project in Xi’an, the provincial capital of Shanxi Province, Northwest China. Strategically located along the Xi-Han expressway, a highway connection to 11 major roadways throughout the region, GLP Park Xi’an Hi-tech supports distribution to the largest consumer markets in Northwest China and is an ideal development to serve as a regional distribution for retailers, manufacturers and 3PLs.
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 and Japan. It owns, manages and leases out 446 completed properties in 187 logistics parks spread across 36 major cities in China and Japan, 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 Sales-and-leaseback, GLP is dedicated to improving the supply chain efficiency for 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).
Issued by: Global Logistic Properties Limited
Investor relations & Media Team
Email: investor.relations@glprop.com
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.com
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