GLP inks new leases to e-commerce players in China, US and Japan

It signed a total of 218,000 sqm of new leases.

A strong demand from the e-commerce industry has led to Singapore mainboard-listed fund manager, developer and logistics solutions provider Global Logistics Properties (GLP) to ink three new lease agreements to companies in China, United States and Japan.

In a statement, GLP announced that it has sealed a 218,000-sqm deal of new leases in the three countries. This includes a 153,000-sqm with four leading third-party logistics providers serving a major e-commerce platform in China.

It also comprises a 55,000 sqm of new and renewal leases with a leading global e-commerce company in United States, and a 10,000 sqm new lease signed with a software company for online sales in Japan.

GLP CEO Ming Z. Mei said the strong growth trend from these e-commerce players is expected to continue driving demand for the group's modern logistics facilities globally.

"Our comprehensive network and high quality specifications are well suited to accommodate the strong growing demand of e-commerce and we look forward to growing with our customers globally as they continue to expand,” Mei said.