Rio de Janeiro has a population of 6.45 million and the broader metropolitan area has a population of about 12 million, making it the sixth-largest city in the Americas by population. The city’s GDP is $225 billion and per capita income is $19,000. A vibrant, densely populated city, Rio de Janeiro’s economy is driven by tourism, services and trade. In the past decade, the economy of Rio de Janeiro state has more than doubled in size.
Rio de Janeiro is an important regional and international center of transport, logistics and distribution. The Port of Rio de Janeiro is the third busiest in Brazil. Rio de Janeiro’s Galeao International Airport is the second-busiest airport in the country.
A growing network of ring roads and highways is helping to bring greater connectivity to the network of industrial properties and the logistics system at large. The market is significantly undersupplied, as modern logistics facilities are catching up with high underlying demand.
Prologis is a leading owner, operator and developer of high quality logistics real estate in Brazil with prime locations in São Paulo and Rio De Janeiro, Brazil’s most important markets for consumption and distribution, plus a portfolio of well-located, developable land.
Prologis originally entered the Brazil market through a joint venture with Cyrela Commercial Properties (CCP), one of Brazil’s leading commercial property developers. On August 16, 2017, Prologis acquired CCP’s share of the joint venture’s Brazil portfolio.