The American Prologis remains optimistic about the market for warehouses near São Paulo and Rio de Janeiro. With an eye on the demand for areas by e-commerce, logistics and retail customers, Prologis Brazil Logistics Venture (PBLV) - a joint venture formed by the company with Canadian manager Ivanhoe Cambridge - reinforced the total of R$500 million investments in progress, set at R$1 billion last year. R$1.5 billion investments are destined to construct and deliver 12 warehouses in the next 16 months.
“Out of the total projects, half are pre-leased to national and international customers,” says the chief executive of Prologis in Brazil, Armando Fregoso. There are 525 thousand square metres under construction that will add to the 1 million square metres in operation. Last week, the joint venture bought a land plot on Rodovia Raposo Tavares from a private investor to build two warehouses.
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