GLP

GLP: Alibaba’s Taobao Mall has signed 2 agreements with co to lease 75k sqm in Shanghai and Guangzhou. The agreements include a 55k sqm facility in GLP Park Hongqiao in West Shanghai, nxt to Hongqiao hub where the railway and Hongqiao Airport stations are and a 22k sqm facility in GLP Park Zhencheng which will be completed and delivered to Taobao Mall in Oct 2011. Taobao Mall is a B2C online marketplace with the largest share of China’s online retail mkt. GLP’s valuations are at an all time low since its IPO with P/B of 1.0x