SINGAPORE (Nov 16): GLP, the owner-operator of modern logistics facilities, announced that it has signed 204,000 sqm of leases with DHL, Hitachi Transport System, Schenker and AGV Logística.

These leases were signed for facilities across China, Japan, US and Brazil, with the customers using the facilities for domestic distribution of demand from pharmaceutical, auto parts and consume goods industries.

“The third party logistics industry is the largest customer segment for GLP,” says Ming Z. Mei, chief executive officer, Global Logistic Properties.

“GLP’s modern logistics facilities form an important cornerstone of an efficient distribution network which creates value and delivers higher service quality to our customers,” he adds.

GLP’s network effect with its properties can be seen with 50% of customers leasing in multiple locations and 70% of leasing driven by existing customers.

Units of GLP closed down 3 Singaporean cents at S$2.03 on Tuesday.