A logistics centre in Huaibei, Anhui province. The Singapore-based GLP is the largest warehouse operator in China, accounting for 30 million square metres of space. Photo: Reuters

Logistics major GLP forms US$2 billion fund with Singapore’s GIC

GLP, Asia’s largest warehouse operator, has launched a US$2 billion China fund in partnership with Singapore sovereign wealth fund GIC as it continues to tap into the growing demand for warehousing fuelled by a boom in e-commerce and domestic consumption.