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...
Global Logistic Properties
Singapore's Global Logistic Properties (GLP), which owns warehouses in Japan and China, said it has formed a joint venture with Canada Pension Plan Investment Board to develop logistic facilities in Japan. In a statement, GLP said each partner will invest US$250 million of equity over a projected three years, adding that the targeted leverage is 50 per cent loan-to-value after stabilisation with an...
Global Logistic Properties (GLP) is counting on China's booming domestic market to remain buoyant. This came after the Singapore-listed company posted an 80 per cent plunge in quarterly net profit. GLP's earnings last quarter were hurt by the earthquake in Japan which disrupted its warehousing services. In China, rising interest rates lowered demand Still, china contributed 69 per cent of revenue and...
Global Logistic Properties has signed agreements with two firms for the lease of facilities at GLP Park Jinqiao in Shanghai. In a news release, GLP said e-commerce solutions provider Commercial Global will take up a five-year lease for a 100,000-square-metre space to support online customers in east China. A renowned global luxury brand will also use 10,000 square metres of GLP's logistics facility as a...
Mainboard-listed Global Logistic Properties (GLP) said it has signed two agreements with Alibaba's Taobao Mall for the lease of two facilities in Shanghai and Guangzhou. In a statement, GLP said the agreement marks the partnership between the two companies and is expected to improve the nationwide logistics facility network for Alibaba's Taobao Mall's online retailing business. The new leases include a...
Mainboard-listed Global Logistic Properties (GLP) says it has signed an agreement to acquire a 49 per cent stake in Shanghai Yupei Group - a leading logistics properties provider in China. In a news release, GLP said the acquisition will cost US$53.6 million (S$65.2 million) and will be done through the 100 per cent equity acquisition of a Hong registered special purpose vehicle Shimmer Profits Limited by...
The Monetary Authority of Singapore (MAS) said it will not take any regulatory action against Global Logistics Properties Limited (GLP) after it has concluded its investigations on the firm. In a statement, the central bank said it has carefully assessed the circumstances of the case relating to an omission of information concerning a non-competition arrangement in its prospectus for public listing in...
Mainboard-listed Global Logistic Properties (GLP) on Monday said it has signed a long-term lease agreement with DHL Supply Chain, a Japanese subsidiary of logistics firm DHL group. This would be the third lease agreement that DHL group has with GLP in Japan, bringing GLP's overall Japan portfolio to 99 per cent leased. GLP said it sees robust demand for modern logistics facilities. It added that with...
Global Logistic Properties (GLP), which owns warehouses in China and Japan, said that it had submitted a bid to acquire a portfolio of over 20 industrial assets in Japan from LaSalle Investment Management, confirming earlier media reports. If its bid is successful, GLP, partly owned by Government of Singapore Investment Corporation (GIC), expects to acquire the portfolio in a fund structure with one or...
Singapore's Global Logistic Properties (GLP) is in final negotiations to buy LaSalle Investment Management's Japanese portfolio of real estate that could fetch up to ¥140 billion (S$2.12 billion), according to people familiar with the matter. If successful, the acquisition would be the biggest property deal in Japan in two years, It would also mark the single biggest foreign investment into Japan since...