Media365
“In logistics, as market supply stabilises, we expect rents to trend towards pre-Covid-19 levels, which reflect a 30 to 50 per cent upside from where we are today,” Zhao told the South China Morning Post. “In data centres and new energy, we believe we are in the early stages of a generational growth cycle and just scratching the surface in terms of demand.”
GLP, the developer and operator of more than 420 logistics and business parks across 70 Chinese cities, has 40 million square metres of properties under management in the world’s second-largest economy. Its China operations own 2.7 gigawatts (GW) of renewable energy generating capacity, with 1.5GW already connected to power grids. One GW can supply about 750,000 households for a year.
The Singapore-headquartered company is reportedly planning an initial public offering in Hong Kong with a targeted valuation of about US$20 billion, according to a source familiar with the matter.
Zhao declined to comment on the fundraising issue.
