With a population of about 800,000 in the city limits, Valencia is Spain’s third largest city, after Barcelona and Madrid. Valencia is one of Spain’s oldest cities, believed to be founded in 138 B.C. In addition to the historic sites, futuristic architecture, museums and other modern cultural attractions draw tourists to Valencia. There are almost 1.6 million residents in the urban area surrounding Valencia making it a major economic and industrial center. An intensive labor force supports the diverse economy which is made up of mostly small and mid-sized businesses.
With an abundance of fruit flowing in from neighboring regions, food and agriculture industry has the largest presence, followed by wood furniture. The metal-mechanic sector is the biggest employer. In terms of production, Valencia has a strong ceramic and toy manufacturing presence. The city’s main exports are wine, oranges, lemon, rice, furniture, ceramic tiles, fans, textiles and iron products.
On Spain’s east coast, Valencia’s port, El Grao, is one of the busiest on the Mediterranean and the largest container port in Spain. The port has undergone extensive renovations and additional expansion projects are under way. Valencia’s port handles 20% of Spain’s exports making it an extremely important logistics hub.
Prologis owns and operates logistics real estate facilities in Valencia.