Warehousing witnessed over 50% growth YoY, almost 32 mn sq ft in 2018
Indeed, the year witnessed a 22-per-cent, year-on-year (YoY) growth in total stock in Grade A and B warehousing space in the top eight cities, while total inventory in these cities evolved to 169 million sq ft in 2018 from 138 million sq ft a year ago. Interestingly, according to JLL, the absorption in total warehousing space also witnessed over 50 per cent growth YoY, reaching almost 32 million sq ft in 2018. Built-to-suit developments constituted 26 per cent of the absorption last year. Clearly, demand is outstripping supply significantly, with vacancies dropping below 10 per cent for the first time ever.
Source:
JLL Industrial Research 2019 for Grade-A & B spaces in top 8
cities in India
*includes BTS spaces
Cities Driving Opportunities
City | 2018 warehousing absorption (million sq ft) |
Delhi-NCR | 9.8 |
Bengaluru | 4.6 |
Pune | 3.9 |
Mumbai | 3.6 |
Kolkata | 3.4 |
Chennai | 2.7 |
Ahmedabad | 2.6 |
Hyderabad | 1.2 |
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