Global Logistic Properties (GLP) said on Monday (Dec 8) it is co-investing with Singapore sovereign wealth fund GIC to acquire a US logistics real estate portfolio for US$8.1 billion (S$10.7 billion). Singapore-listed GLP, which provides logistics facilities in China, Japan and Brazil, said in a statement it would initially hold a 55 per cent stake in the venture and GIC would take 45 per cent. However,...
Global Logistic Properties
Global Logistic Properties (GLP), the real estate giant whose key shareholders include Singapore’s sovereign wealth fund GIC, has agreed to pay Brazil’s BR Properties 3.2 billion reais (S$1.7 billion) for property assets in the South American country. Singapore-based GLP is buying 34 industrial and logistics facilities in Brazil that will lead to a yield of 9.4 per cent, the company said yesterday...
Global Logistic Properties (GLP) has reported a 31 percent on-year rise in third quarter net profit to US$113 million. The logistic facilities provider benefited from a strong lease-up of development projects as well as rental growth in China. Group revenue rose 20 percent year-on-year to US$174 million in the three months ended December Mr. Ming Z. Mei, Co-Founder and Chief Executive Officer of GLP,...
Global Logistic Properties (GLP) announced on Monday the expansion of GLP Japan Development Venture to US$2.2 billion. It will commit an additional 29 billion yen (US$316 million) to the joint venture to develop modern logistics properties in Japan. GLP has a 50 percent stake in the JV with Canada Pension Plan Investment Board. Singapore-listed GLP is one of the world's leading providers of modern...
Global Logistic Properties Limited (GLP) will invest more than S$100 million (US$82 Million) in rooftop solar panels on twenty-two properties in Japan to promote renewable energy generation and create a new revenue stream. “As a leading developer of large-scale, modern and environmentally-friendly logistic facilities, we are delighted to announce the launch of this exciting project”, said Yoshiyuki...
Warehouse operator Global Logistic Properties (GLP) said on Thursday it would exercise an option to sell three Japanese properties to Tokyo-listed GLP J-REIT for US$142 million (S$174 million), Dow Jones Newswires reported. The deal is part of a November transaction in which the Singapore-based company sold 30 Japanese warehouses to the real estate investment trust for 209 billion yen (S$2.8 billion), in...
GLP J-REIT, a real estate investment trust set up by Singapore's Global Logistic Properties (GLP), will sell as much as ¥111 billion ($1.6 billion) worth of shares in its initial public offering in Japan, according to a regulatory filing yesterday. GLP, one of the world's largest warehouse operators, said last month it would sell shares in the REIT, which has 30 properties valued at US$2.6 billion (S$3.2...
Global Logistic Properties (GLP) has reported a 53.7 per cent increase in first quarter (ended June 30) net profit to US$153 million (S$190.6 million), driven by a strong operational performance in China and growth in its Japanese fund management platform. Asia's largest logistic facilities provider said turnover rose 32 per cent year-on-year to US$170.5 million (S$212.4 million), boosted by a 75 per cent...
Asia's largest logistic facilities provider, Global Logistic Properties (GLP), says the booming e-commerce market is helping it to weather China's economic slowdown. Online retail sales in China have doubled every year for the last five years. GLP, a unit of the Government of Singapore Investment Corporation (GIC), is on an expansion drive to provide more warehouses in Chinese cities like Chengdu,...
Global Logistic Properties Limited (GLP), has announced that it will start construction on a logistics facility, GLP Atsugi, in November 2012. To be completed in December 2013, the 109,500 square metre facility is located in Aikawa, or the area known as "Atsugi" in the Kanagawa prefecture in the Greater Tokyo region. The total development cost is estimated to be USD$169 million2 (JPY 13.5 billion). GLP...