GLP secures Sagamihara site in Greater Tokyo

Singapore

GLOBAL Logistic Properties (GLP) has secured a site in Sagamihara, Greater Tokyo, which it plans to develop over 655,000 square metres of gross floor area at a total investment cost of 133 billion yen (S$1.6 billion).

GLP expects to start the first phase of construction in 2020 following a sale-and-leaseback arrangement with the seller. It intends to undertake the project within its US$39 billion fund management platform.