GLP to develop logistics facility in Chiba, Japan

GLOBAL Logistic Properties (GLP) will start work on developing a 72,000 sq m multi-tenant logistics facility in Greater Tokyo, the company announced yesterday.

GLP Yachiyo, expected to be completed in October 2015, comes with a total estimated development cost of 11.1 billion yen (S$135.4 million).

Yoshiyuki Chosa, the president of GLP Japan, said: "GLP Yachiyo is strategically located in Chiba prefecture, one of the most important distribution regions in Greater Tokyo."