Here's why GLP can hinge on e-commerce tenants for growth

E-commerce tenants account for 25% of GLP's leased area in China.

Leading provider of modern logistics facilities Global Logistics Properties are seeing good days ahead in China, where there is a continued demand coming from e-commerce players.

According to UOB KayHian analysts Derek Chang and Vikrant Pandey, the growth of e-commerce in China will continue to underpin demand for logistics facilities, in which GLP can benefit.

"Shortage of modern logistics space leaves top e-commerce tenants like JD.com dependent on GLP for leasing requirements despite constructing their own warehouses," the two analysts noted.

They added, "While media reports abound of e-commerce tenants like JD.com constructing their own warehouse buildings, the shortage of welllocated modern logistic facilities has still led JD.com to increase its spatial requirements to GLP at a CAGR of 103% over the last five years."

JD.com is GLP's second largest tenant. The two analysts noted that e-commerc tenants account for 25% of GLP’s leased area in China, the highest proportion relative to GLP’s other operating geographies.

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