Singapore-headquartered GLP eyes 50% rent surge as China demand fuels logistics growth

2026.03.19 09:20 A solar farm built by GLP on a fishery site in Suzhou, eastern Jiangsu province. Photo: Handout GLP, a global operator and investor in logistics, digital infrastructure, renewable energy and finance, is deepening its commitment to China’s growth, projecting as much as a 50 per cent rise in logistics rental rates, supported by stronger domestic consumption and wider adoption of alternative energies. Angela Zhao, CEO of GLP China, said the country’s 15th five-year development plan for 2026 to 2030 would further cement the company’s role as a global thematic investor in “new economy” industries. “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. GLP can unlock synergies between property management and renewable energy to improve operating efficiency and profitability, says Angela Zhao. Photo: Handout 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. On renewables, she said GLP’s generating capacity would grow substantially in the coming years, driven by its new energy investments. “Warehouses and data centres are intensive energy users,” Zhao said. “By integrating renewable

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