Global Logistic Properties

Global Logistic Properties: Group announced that it has pre-leased ~91,000 sqm (977,000 sqft) to Deppon Logistics, one of China's largest 3rd-party logistics providers. The lease area would make Deppon Logistics the second largest customer in China, with a total of 267,000 sqm (2.9m sqft), or 4.1% of GLP's total leased area in China. Deppon Logistics has an extensive national network that serves more than 550 cities across 31 provinces in China. They are one of China’s leading integrated logistics provider offering a full range of products including express road shipping, road freight and air freight, founded in 1996. GLP trades at 1.2x P/B, has 525 completed properties in 194 logistics parks spread across 62 cities and states in China, Japan and Brazil, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres.