Global Logistic Properties (GLP), a subsidiary of Government of Singapore Investment Corporation (GIC), said it sees strong demand for its logistics facilities in China.
The company announced on Wednesday that it has signed new and expansion lease agreements totalling 152,000 square metres at GLP Park Chongqing and GLP Park Chengdu Hi-tech.
It said due to the growing demand from customers in western China, both GLP Park Chengdu Hi-Tech and Phase I of GLP Park Chongqing have achieved full occupancy.
Phase II of its Chongqing facility has also seen strong customer demand, with about 50,000 square metres leased out since its completion in late August, the company added.
Kent Yang, managing director of GLP China, said: “The strength of these leasing results reflects the robust market demand for modern logistics facilities and value-added solutions.
“By expanding our network of strategically-located modern logistics facilities in China, we are enhancing our ‘Network Effect’ to better serve our customers across different locations in China.”
Source : Channel NewsAsia – 8 Sep 2011