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Logistical condominiums area grows reaching almost 18 million metres

Logistical condominiums area grows reaching almost 18 million metres

Logistics in Brazil has been increasing a lot in recent years. And the market for logistical condominiums has been following this evolution. According to statistics from SiiLA, a multinational commercial real estate data and monitoring company in Latin America, Brazil currently has 17,997,392 square metres of this type of development. Five years ago, during the 1st quarter of 2016, there were 13,545,894 square metres.

"Investments in this type of property are on the rise since good logistics offers a huge competitive advantage for companies, which help them to assist their consumer audience more efficiently", comments SiiLA Brasil CEO Giancarlo Nicastro.

Between January and March 2021 alone, seven projects were delivered in the country, totalling 214.677 square metres of logistics area. And part of these assets has already been rented out.

"And what we see today is that, although most of the developments are still located in the Southeast, especially in São Paulo, in recent times, more and more developments are being built in other regions. In the first quarter, of the properties delivered, two are in the State of São Paulo, two in Rio de Janeiro, two in Bahia and one in Minas Gerais ", explains Nicastro.

Mercado Livre is the tenant of the project delivered in Bahia. The company recently announced the opening of 16,000 job openings to Latin America, of which 7,200 are for Brazil alone. The company intends to expand its operation mainly in the distribution centres and areas of information technology, financial and products. The company expects to end the year with twice as many employees as it currently has.

Magazine Luiza announced that it would soon open a new logistics centre in Gravataí, in Rio Grande do Sul. Today, the state has 408,697 square metres of logistics condominium area and is expected to receive another 55,581 square metres in the third quarter of 2021.

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