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GLP presses ahead with China growth strategy

18 January 2012
Global Logistic Properties intends to press ahead with plans to grow its floor space in China by 20-25 per cent annually over the next three to four years despite the economic slowdown. Deputy chairman Jeffrey Schwartz said demand for modern logistic facilities and warehouses in China would remain strong in the years ahead, reported Cargonews Asia.

In the year following its listing in October 2010, the Singapore-based logistics infrastructure provider has grown its gross floor area in China by 57 per cent to 17.6m sq metres. The figure includes 8.9m sq metres of land reserve.

Some of this expansion has come through acquiring stakes in its competitors, Vailog China and Airport City Development. It has also bought shareholdings in the logistic facilities companies Shanghai Yupei Group and Blogis.

GLP is the largest provider of modern warehouses and logistic facilities in China.

     
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