Prologis, Inc. ( NYSE: PLD ) Nareit's REITweek: 2024 Investor Conference June 5, 2024 10:15 AM ET Company Participants Dan Letter - President Tim Arndt - Chief Financial Officer Conference Call Participants Ki Bin Kim - Truist Securities Ki Bin Kim Okay. Thank you, everyone for joining the Prologis panel session here.
My name is Ki Bin Kim, Managing Director and Senior Equity Analyst at Truist. To my right is Dan Letter, President and to his right, Tim Arndt, Chief Financial Officer at Prologis. I'll kick-off the meeting with some opening Q&A, and we will pause periodically to take any questions from the audience.
To start off, I was just wondering if you can share your perspective on what makes Prologis unique and different from the other industrial peers in the sector. Dan Letter Yes. Why don't I start and then, Tim maybe pile on here.
So I would look at Prologis in a unique fashion. We have multiple diverse drivers of growth. We own 1.
2 billion square feet of the best quality, highest quality, best located logistics portfolio in the world. We are active in 20 countries that represent about 75% of global GDP. Secondly, we had a robust development business.
We own or control about 12,000 acres worth of land that embedded in that land portfolio is about a 225 million square foot build-out, representing about $38 billion, $39 billion worth of TEI. So a long runway for growth in the development business. Third is our strategic capital business.
Around the globe, we have 11 diff.