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Prologis

SPAIN - Transport

Cristian Oller

Country Manager, Prologis

Bio

Cristian Oller is Country Manager of Prologis.

"We view sustainability as a shared value where our investments return gradually as clients appreciate and reciprocate the benefits, with us also assisting them with capital investments."
TBY talks to Cristian Oller, Country Manager of Prologis, about recent achievements, integrating AI into operations, and goals for the coming years.
What have been the greatest achievements of Prologis in recent years?

Prologis has undergone a transformation process, reorganizing teams to focus on the client experience and becoming more customer centric. We have doubled our team size from 12 to 24 people in the last few years and strengthened all personnel interacting with clients. Additionally, we have made progress with the Park Life initiative, a philosophy aimed at offering clients more services than traditional logistic parks. Lastly, we have made significant strides in sustainability. While we were already working toward sustainability goals, we have set a target to achieve carbon neutrality by 2040, 10 years ahead of the Paris Protocol’s timeline. From 2025-2030, Prologis aims to achieve carbon neutrality in scope 1 and 2 emissions, with an additional 10 years to reach carbon neutrality in scope 3 emissions.

What advances has Prologis made in the area of digitalization, and what role does AI play in its processes?

AI is now integrated into all our operations and all aspects of life. We have been digitalizing our processes and capturing all data generated by our warehouses, especially concerning consumption and space utilization. This allows us to determine the dimensions needed for implementing other ventures, such as the energy module. We aim to provide renewable energy to our clients at competitive prices. Through digitalization and knowledge of their consumption habits, we can offer high-quality services tailored to our clients’ needs. We view sustainability as a shared value where our investments return gradually as clients appreciate and reciprocate the benefits, with us also assisting them with capital investments.

Who are Prologis’ main clients, and what is their general profile?

Our portfolio is highly diversified to mitigate concentration risks associated with clients from a single country or sector. Prologis serves clients across various industries, including retail, textiles, food, logistics operators, and packaging and delivery companies. We aim to provide services to all clients and support their expansion efforts. Operating in key GDP-generating regions, we are strategically positioned to observe market demand, understand client strategies, and collaborate effectively with them.

What potential does the logistics real state sector have in Spain compared to other countries?

Having recently assumed the position of asset manager for the Southern European region, I have observed that while Spain’s market is dynamic and works fine, we should not forget that the Italian and French markets are larger and more dynamic. Prologis’ strategy has always focused on markets with high GDP concentrations, ensuring resilience against disruptions like the Ukrainian conflict or energy crises.

Is the shortage of industrial space in the south of Spain a challenge?

Shortages vary by area and market. Madrid’s geographical location facilitates industrial community development, resulting in excess product offerings and market uncertainty. Conversely, the central area faces scarcity, offering potential for income growth. Barcelona’s market presents significant challenges due to lengthy urban planning processes, hindering timely development. There is unmet demand with limited alternatives for development.

What are your expectations for the future? Will investment grow?

Investment fell by 50% in 2023 due to market volatility and corrections, though we anticipate 2024 to be a year of reactivation, characterized by a “wait and see” approach. While interest in logistics real estate investment remains, uncertainties persist, resulting in a cautious stance. The market is adapting, but significant progress may be on hold during 2024.

What are Prologis Spain’s main goals for the coming years?

Our goals include maintaining our commitment to quality execution, asset quality, and service excellence. We continue to focus on decarbonization efforts and talent development initiatives. For instance, we have partnered with the University of Barcelona to offer warehouse officer management programs, addressing the growing demand for skilled warehouse personnel. As we modernize assets, we prioritize sustainability, mobility, and renewable energy innovations. Through initiatives like Essentials, we provide added-value services, allowing clients to focus on operations while we handle ancillary needs such as warehouse relocations, security, office setups, renewable energy provision, and mobility infrastructure.

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