Prague, a storied city since Romanesque times, is today's political, cultural and business capital of the Czech Republic. With a metropolitan area population of about 1.3 million, Prague is an important consumer economy, accounting for nearly one-quarter of the Czech economy’s total output and a GDP per capita more than twice the average of the rest of the Czech Republic.
Since the end of the Cold War, the Czech Republic has modernized and become tightly integrated with the economy of Europe, especially Germany. Modern road networks connect Prague to eastern and southern Germany. As a result, the Prague area is the largest logistics and distribution hub in the Czech Republic and the second largest in Central and Eastern Europe.
Prague’s economy is fueled by tourism, banking and information technology, which together comprise about 80 percent of the city’s employment. Consumption, e-commerce and rising volumes of trade all boost demand for distribution and logistics facilities. Prague is also home to pharmaceutical companies and manufacturers of information technology products.
Prologis operates industrial properties and warehouses in the Prague area.