GLP signs 3 mil sf of new leases in China

SINGAPORE (May 4): Global Logistic Properties (GLP) has leased a total of 3 million sf over the past three months to four multi-location customers in China, whom the provider of modern logistics facilities does not name but instead describes as “leaders in the e-commerce and auto parts industries”.

In a Thursday press release, the group says a total of 2.4 million sf worth of new lease agreements were signed with two leading e-commerce companies in Eastern China, while the remaining 0.57 mil sf were leased to two auto-related companies across three locations in China.

With these leases, GLP says it expands its relationships with the said customers, of which two are its largest customers by leased area in China.  

---

Related Stories

• Buying into China stimulus Is ‘painful trade’, Lombard Odier says
• China’s stock rally faces risk as retail enthusiasm seen cooling
• China keeps policy loan rate unchanged for second month

---