Reuters, 3 Mar 2009, Fang Yan
SHANGHAI, March 3 (Reuters) - Global Logistic Properties (GLP), an Asia-focused warehouse owner and developer, plans to invest $300 million to $500 million annually in China in the next few years, banking that government stimulus spending will boost demand for warehousing services, its president said on Tuesday.
GLP, formerly the Asia operation of Prologis PLD.N and now 50 percent-owned by the real estate arm of Government of Singapore Investment Corp (GIC), controls 60 logistics parks in 18 major Chinese cities, including Shanghai and Beijing, Ming Mei told a briefing for reporters.
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