In the first nine months this year, 22 million leasing activities took place—almost stable on an year-on-year (YoY) basis.
A 40 per cent quarter-on-quarter growth was witnessed in leasing among India’s logistics and industrial businesses during the July-September quarter this year.The growth was 18 per cent on a yearly basis, says a report by real estate consulting firm CBRE South Asia. Among cities, Delhi NCR and Mumbai led absorption, together accounting for 57 per cent share.
Sectors that dominated leasing included third-party logistics (50 per cent), engineering and manufacturing (17 per cent), retail (9 per cent), e-commerce (7 per cent) and fast moving consumer goods (4 per cent).
Total supply addition of 13 million sq. ft. was recorded during same period in 2022, the report, titled ‘India Market Monitor—Q3 2022’, said.
Holistic policy initiatives such as PM GatiShakti, and National Logistics Policy, among others, are anticipated to transform the sector and bring it to par with global standards, the report added.
Fibre2Fashion News Desk (DS)