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European portfolio, China funds to drive GLP's growth

Net profit rose 33.6% to US$231.3m in its second quarter, while revenue climbed 31.9% to US$281.7m

Published Fri, Nov 10, 2017 · 09:50 PM

Singapore

GLOBAL Logistic Properties' (GLP) growth will come from its syndicate Europe portfolio, as well as potential new China acquisition and income funds and a further US$11 billion of uncalled capital, it said on Friday.

GLP last month signed an agreement to buy Gazeley, a developer and operator of logistics facilities in Europe, for about 2.4 billion euros (S$3.8 billion).