<font size="2">You need Macromedia Flash plug-in for the browser to view this.</font>


Magazines Archives - 2009 May

GLP continues investment in China
Story 11 - Logistics

GLOBAL LOGISTIC PROPERTIES (GLP), formerly the Asian arm of USbased warehouse developer ProLogis, said it plans to invest about US$1 billion in China’s logistic sector over the next two years, focusing on the country’s first- and second-tier cities.

The group, which has a presence in 18 major Chinese cities, including Shanghai and Beijing, intends to continue investing US$300 million to US$500 million yearly, and hopes to leverage the RMB4-trillion (US$585.9-billion) government stimulus package meant for boosting domestic consumption.

“Being Asia’s largest industrial and logistic infrastructure provider, GLP is well positioned to service the long-term needs of its fast-growing and diverse customer base. We believe strongly in the growth of the logistic business in China and that GLP will play a significant role in its progress and development,” said Dr Seek Ngee Huat, president of GIC RE, the real-estate investment arm of the Government of Singapore Investment Corporation, which acquired ProLogis’ Chinese operations last January.

In addition, rental rates in some Chinese cities are falling in favour of the group’s investment plans. “The rental rates here are not rising as fast as they were in the past. But if you look at China relative to the rest of the world, it is by far the strongest market globally,” Jeffery Schwartz, GLP’s chairman, said.

GLP has also acquired over 50% stake in real-estate developer Genway Group’s 676,000sqm industrial portfolio, which currently serves global customers such as Philips, Panasonic and Samsung, among others.


To view other stories, get a copy of Retail Asia. To subscribe, please download the subscription form from http://www.retailasiaonline.com/subscription.html 


2009 May Stories:

Strategic planning in this crisis - Part 1: How has the paradigm shifted for Asian retailers?

HKTDC Food Expo 2009 to host first Hong Kong International Tea Fair

Cards & Payments Asia 2009: Shifting consumer attitudes impacting market direction

How Thailand instils

High stakes ensure integrity in Singapore

Cleanliness, safety the be-all & end-all in the Philippines

More needs to be done in Malaysia

India works to flush out the enemy within

One bright spot in downturn: Cosmetics non-negotiable

Two malls set to open in Singapore

GLP continues investment in China

Melamine scare, global recession put a dent on world dairy market

Laura Ashley Japan installs software to improve store efficiency, customer service

> Back To 2009 Archives
Site Map
Powered By