Singapore, a city-state, is one of the most prosperous and trade-intensive countries in the world. With a GPD per capita of about $54,000, it is an important consumer market and also a crucial node in the global logistics and distribution industry, serving as a link between Asia and Europe and the United States.
In Singapore, trade amounts to 173 percent of GDP, one of the highest ratios in the world, with electronics and manufactured goods accounting for a high percentage of exports.
Singapore is an immensely important global shipping and logistics capital. Its port is the second busiest in the world in cargo, behind Shanghai. Last year, it handled 30.9 million TEUs. Singapore’s Changi Airport is one of the world’s busiest. In 2015, it accommodated more than 55 million passengers and more than 1.8 million metric tons of cargo.
With 5.6 million people, Singapore has a high population density. Land scarcity in Singapore is pushing the logistics industry to find innovative means of building and managing industrial properties and warehouses. One solution is multi-story warehouses.
Prologis operates industrial properties and warehouses in Singapore.