GLP inks new lease deals with 5 firms in China

Global Logistic Properties, or GLP, has closed new lease agreement totalling 81,000 square meters with five companies in China, in the retail, e-commerce and third-party logistics industries.

All the customers are using the facilities for domestic distribution amid fast growing sales of consumer goods, GLP said in a statement on Thursday.

Kent Yang, president of GLP China, said that as sales of consumer goods continues to rise in China, "e-commerce and third-party logistics facilities are driving demand for GLP's modern logistic facilities in premium locations".

On Thursday, the counter closed trading down 3.08 per cent, or eight Singapore cents, at S$2.52.