GLP, Canada Pension Plan in JV to develop Japan projects
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Singapore
GLOBAL Logistic Properties (GLP) and Canada Pension Plan Investment Board (CPPIB) have set up an equally held joint venture to develop logistics facilities in Japan.
GLP, a developer of cutting-edge warehouses, said on Wednesday that the new GLP Japan Development Venture II will have total equity commitments of 100 billion yen (S$1.23 billion) to start, but the size of the 50-50 venture is expected to reach US$2 billion over three years, GLP said.
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