- Reinforcing commitment in China and Japan logistics markets -
SHANGHAI, March 3 /PRNewswire-Asia/ -- The company formerly known as ProLogis Asian Operations has been re-branded as “Global Logistic Properties”. This is a key step for the industrial and logistics infrastructure provider to continue its leading market presence in China and Japan, Global Logistic Properties announced today.
The newly launched logo of GLP suggests key elements of “global connection” and “logistics path” in the brand, the company said.
ProLogis China’s management team remains unchanged as GLP. ProLogis Chairman and Chief Executive Officer Jeffrey H. Schwartz serves as Chairman of GLP, while Ming Mei, former Chief Executive Officer of ProLogis China and Asian Emerging Markets, is President of GLP.
“We are excited to launch the new brand ‘Global Logistic Properties’ in China and Japan as it marks a new starting point for the team to continue its efforts in ensuring the consistency of our world-class quality assets as well as to explore new business opportunities,” said Jeffrey H. Schwartz, GLP Chairman.
“The sound knowledge of our partner, GIC RE, on this region’s real estate industry also bodes well for the team to continue its growth in China despite the global financial turmoil,” he noted.
Dr. Seek Ngee Huat, President of GIC RE, said, “Being Asia’s largest industrial and logistics 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 logistics business in China and that GLP will play a significant role in its progress and development.”
In a major vote of confidence in China’s bright future in the world’s logistic industry, GLP has taken over a 50 percent interest in the 676,000 sqm of industrial portfolio totaling RMB 1.5 billion from Genway Group, a leading comprehensive real estate developer in Jiangsu Province. The facilities currently serve multinational customers such as Philips, Panasonic, Samsung, AMD and Schneider, etc.
“The company will continue to focus on customer service while seeking opportunities in the current economic environment," said Ming Mei, president of GLP.
The company will still keep its original Chinese brand, “Pu Luo Si”, GLP said.
About Global Logistic Properties
GLP is Asia’s largest industrial and logistics infrastructure provider with billions of US dollars worth of assets under management in 26 markets in the region.
In China, GLP controls 60 logistics parks in 18 major Chinese cities, covering all major China logistics hubs. Its portfolio completed and under construction totaled 3.29 million sqm at the end of January. The facilities are located in the cities of Beijing, Chengdu, Chongqing, Dalian, Foshan, Guangzhou, Hangzhou, Jiaxing, Ningbo, Nanjing, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Tianjin, Wuxi and Zhuhai.
GLP also controls 72 logistics parks in Japan with a portfolio totaling approximately 2.5 million sqm. The facilities are located in the major markets of Tokyo, Osaka, Nagoya, Sendai, Sapporo, Niigata, Fukuoka, and Hiroshima.
About GIC Real Estate Pte Ltd (GIC Real Estate)
GIC Real Estate is the real estate investment arm of the Government of Singapore Investment Corporation. Its mandate is to invest globally in real estate and real estate-related assets outside Singapore. GIC Real Estate manages a multi-billion dollar portfolio of direct and indirect property investments with close to 300 investments in more than 30 countries. It is one of the largest institutional investors in Asia and currently ranks amongst the world’s top 10 global real estate investment firms.
