Prologis and GIC Form $1.6 billion U.S. Build-to-Suit Logistics Joint Venture - Prologis Investor Relations

Prologis, Inc. and GIC announced on March 19, 2026, the formation of a $1.6 billion joint venture focused on developing and owning build-to-suit logistics facilities across major U.S. markets. The venture combines Prologis's development and operating platform with GIC's long-term institutional capital and will operate as part of Prologis Strategic Capital, the company's asset management business.

The partnership launches with an initial portfolio of approximately 4.1 million square feet and is structured with scalability in mind, designed to expand as customer commitments are secured. Prologis, the world's largest logistics real estate company, brings 1.3 billion square feet of properties across 20 countries and $230 billion in assets under management to the venture. GIC, identified as a leading global institutional investor, contributes capital and a long-term investment perspective aligned with disciplined deployment across market cycles.

According to Daniel S. Letter, Prologis's chief executive officer, build-to-suit activity represents "one of the clearest signals of customer conviction" in the company's business. The venture capitalizes on this momentum by pairing Prologis's platform expertise with institutional capital that shares the company's long-term investment horizon. Goh Chin Kiong, GIC's chief investment officer of Real Estate, emphasized that the partnership reflects conviction in North American industrial real estate, driven by strong e-commerce growth, supply chain re-shoring, and resilient consumer spending. The venture is positioned to benefit from these structural demand drivers while maintaining disciplined capital deployment principles across economic cycles.