GLP announces record leasing, development activity for logistics business in 2020


Image for illustration purposes only

Logistics real estate investor, developer, and operator GLP business signed more than 22.7 million sqm of new and renewal lease agreements over the past 12 months globally, up 57% year-on-year. The business also initiated USD 5.3 billion or 5.6 million sqm of new development projects in 2020, up 75% year-on-year, according to a report by the Warsaw Business Journal.

E-commerce continues to be a strong driver of demand in the logistics real estate sector as internet penetration rates across major global markets continue to grow. Today, e-commerce represents approximately 40% of GLP's global portfolio, compared with 20-25% five years ago.

The pandemic has accelerated the shift towards e-commerce and digital solutions by at least two to three years and we expect these changes to have lasting effects even as the world economy begins to recover. This new landscape demands not just increased warehouse space but also the right technology, data, and people to create efficiencies in the broader supply chain.

In Europe, leasing activity grew by 69% year-on-year with approximately 1 million sqm of agreements signed in 2020 to new and repeat customers including Amazon, DHL, Leclerc, ID Logistics, Royal Mail, XPO Logistics as well as SF Express, a global customer taking the first lease in Europe. Additionally, GLP Europe recorded its busiest year ever of development with USD 813 million of new developments started in the period, up 113% year-on-year, whilst also replenishing its development landbank and closing on the acquisition of a logistics real estate portfolio in Central and Eastern Europe, which strategically expands its European presence to 12 countries.


Takarékbank lowers 2021 GDP growth forecast to 6.9% Analysis

Takarékbank lowers 2021 GDP growth forecast to 6.9%

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New partner announced at act Bán & Karika Attorneys at Law Appointments

New partner announced at act Bán & Karika Attorneys at Law

Most districts not planning mandatory vaccination at kinderg... City

Most districts not planning mandatory vaccination at kinderg...


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.