Optimistic, Prologis raises investments in expansion

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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