Industrial and warehousing leasing increased by 7 per cent in six months

19 Jul 2022 CW Team

In five cities, the leasing of industrial and warehouse spaces increased 7 per cent to 10.8 million sq ft between January and June on the back of stronger demand, according to Colliers India.

In the first half of last year, gross leasing, or absorption, was 10.1 million square feet across five main cities: Delhi-NCR, Mumbai, Chennai, Bengaluru, and Pune.

Bengaluru and Chennai saw a decline in leasing while Mumbai and Pune saw an increase. In Delhi-NCR, the amount of industrial and storage space occupied stayed constant at 3 million square feet. The actual leasing is what is meant by the gross absorption; renewals are not included.

Third-party logistics companies accounted for over 55 per cent of the gross absorption, followed by the engineering and automotive industries, each with a share of 12 per cent.

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