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GLP signs lease agreement for Walmart expansion in China

Michelle Zhu Published on Tue, Oct 11, 2016 / 7:40 AM GMT+8

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SINGAPORE (Oct 11): Global Logistic Properties (GLP) today announced a new 32,000 sq m build-to-suit agreement with Walmart to expand the American retail corporation’s existing location in Southern China.

The value of the agreement was not disclosed.

In a Tuesday premarket statement, GLP China co-president Victor Mok notes a “continuous trend” for the expansion of store networks and supply chain infrastructure to support rising retail sales across China, which resulted from growth in domestic consumption.