Madrid, the capital of Spain, has an urban area population of 3.3 million and a metropolitan area population of 6.5 million. It is the third-largest city in Europe and represents about 20% of Spain’s GDP.

Several of Spain’s largest companies, including Telefónica and Iberia Airlines, are based in Madrid. Madrid’s economy is primarily driven by services, which account for about 85% of its GDP.

Madrid is an important center for regional, national and international logistics, with trade and consumption driving demand. Barajas Airport is one of Europe’s top-10 air cargo hubs, handling 340,000 tons in 2015. The longest rail link in the world and the first direct link between China and Spain began operating in 2015, showcasing the potential for a new Silk Road.

Prologis operates industrial property and warehouses in Madrid.