Domestic Consumption Drives Demand for GLP’s Modern Logistics Facilities
GLP signs 128,000 sqm (1.4 million sq ft) of new leases in China and Japan
Demand driven by auto parts, e-commerce and consumer goods industries
Shanghai / Tokyo, 17 January 2017 – GLP, the leading global provider of modern logistics facilities, has signed 128,000 square meters (“sqm”) (1.4 million square feet (“sq ft”)) of new leases in China and Japan. The customers are using the facilities for domestic distribution catering to demand from the auto parts, e-commerce and consumer goods industries.
The following details the new lease agreements which were signed in the past two months.
· 52,000 sqm (560,000 sq ft) to two leading global auto makers in China. One facility is being used for research and development and another for storage and distribution of auto parts
· 46,000 sqm (490,000 sq ft) with two leading e-commerce companies. Vipshop signed 32,000 sqm (340,000 sq ft) in China while a leading global e-commerce company signed 14,000 sqm (150,000 sq ft) in Japan
· 30,000 sqm (320,000 sq ft) in Japan related to demand from the consumer goods sector including electronics and food
Mr. Ming Z. Mei, Chief Executive Officer of GLP, said, “Domestic consumption is the key driver of our business, with 90% of our portfolio globally occupied by customers geared towards domestic consumption demand. With the expansion of organized retail, including e-commerce and retail chain stores, location is becoming more critical to customers than before. GLP’s well-located facilities are in a strong position to benefit from these growth trends and help meet the needs of domestic consumption-led growth in our core markets.”
About GLP (www.glprop.com)
GLP owns and manages a global portfolio of 53 million square meters, with dominant market positions in China, Japan, US and Brazil. Domestic consumption is a key driver of demand for GLP. The Company is one of the world’s largest real estate fund managers, with assets under management of US$39 billion.
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
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