Leading real estate consulting firm, South Asia Pvt Ltd announced the findings of the ‘India Industrial and Logistics Market View, H2 2019’. The CBRE report stated that leasing activity touched a historic high of 33 million sq. ft., increasing by more than 30 per cent on an annual basis.
Bangalore, NCR and Mumbai accounted for about 60 per cent of the overall space take-up during the year. In line with the annual trend, the second half of 2019 also recorded historic leasing activity, with about 18 million sq. ft. of space take-up; an increase of about 20 per cent compared to H1 2019. Bangalore, NCR and Hyderabad accounted for close to 60 per cent of the leasing, the report found.
Speaking on the report, Chairman & CEO – India, South East Asia, Middle East & Africa, CBRE, Anshuman Magazine said, ‘To become a $5 trillion economy, the government aims at enacting several structural reforms to improve physical connectivity. Further, the implementation of government initiatives such as the National Logistics Policy and the National E-commerce Policy as well as large-scale infrastructure development are expected to promote investment, thereby further improving the overall stock of warehousing space in India. The fundamentals of this sector are strengthening, backed by the recovery of domestic demand, improvement of the manufacturing sector and structural shift towards omnichannel retailing.’