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GLOBAL Logistic Properties (GLP) has signed an agreement with global retailer Carrefour to lease 48,000 square metres in mid-western China.
Carrefour will use the facilities to enhance its distribution capability in mid-western and south-western China.
Kent Yang, president of GLP China, said: "Retailers in China are upgrading and expanding their distribution centers as domestic consumption continues to rise. GLP's high-quality facilities in premium locations enable our customers to rapidly scale up their distribution capacity and increase efficiency."
Meanwhile, Carrefour said that GLP's comprehensive network has enabled the grocery chain to expand capacity and upgrade the quality of its facilities in an ideal location. The result is increased supply chain efficiency and better service to the company's stores, it said.
On Thursday, GLP closed trading up 0.735 per cent at S$2.74.