Friday, August 12, 2011

Alibaba’s Taobao Mall to lease two facilities

News this week: Alibaba Group’s B2C subsidiary, Taobao Mall has signed two agreements with Asia-based logistics facilities, Global Logistic Properties Limited (GLP), to lease two of GLP’s facilities in Shanghai and Guangzhou amounting to a total area of 75,000 m2. The agreements are part of Taobao Mall’s effort to improve its logistics facility network in China amidst growing domestic consumption.

The leases include a 55,000 m2 Shanghai facility located at GLP Park Hongqiao (West), while the Guangzhou facility is a pre-lease contract of 20,000 m2 in GLP Park Zhencheng (Xintang) which will be completed and available to Taobao Mall in October this year.

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