India’s Industrial and Logistics leasing reached its all-time peak creating a record at 33 million sq. ft. last year. This substantial data is released by CBRE in its report titled ‘India Industrial and Logistics Market View, H2 2019.’
The report states that three cities – Bangalore, NCR (National Capital Region) and Mumbai accounted for about 60% of the net space take-up. Among these cities, Mumbai has the most influence on the leasing activity.
The 3PL firms showed an ace sign in terms of performance in 2019. The leasing activity of 3PL firms is up by 48% in 2019, while it was at 36% in 2018. ” Supply addition in 2019 crossed 19 million sq. ft., rising by about 78% as compared to 2018. About 70% of this supply was reported in NCR, Mumbai, and Chennai,” CBRE wrote in a statement following its report.
CBRE expects that leasing and supply activities will cross 30 million sq. ft. and 20 million sq. ft., respectively, in the coming year.
Experts in the logistics industry are hopeful that the National Logistics Policy can give a boost to the logistics sector. However, the government is yet to release the National Logistics Policy.