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Warehousing to expand in 8 Indian cities in 2020: Savills

30
Jan '20
Pic: Shutterstock
Pic: Shutterstock
The warehousing sector is expected to add 35-40 million sq ft space across Mumbai, Pune, Chennai, Bengaluru, Hyderabad, Ahmedabad, Delhi and Kolkata this year, according to a recent survey by global real estate consultancy Savills, which said the total supply of warehousing space was 37.94 million sq ft in 2019 while the absorption stood at 33 million sq ft.

The warehousing sector in India has witnessed a massive participation from institutional investors and developers amid rising demand from across sectors like e-commerce, retail, fast moving consumer goods, third-party logistics (3PL) , cold storage, pharmaceuticals and manufacturing, Srinivas N, Savills India managing director for industrial warehousing and logistics, said.

Mumbai and Delhi are expected to see a significant addition of around 8 million sq ft each in 2020, followed by Bengaluru and Kolkata, a news agency reported citing the study.

Last year, Mumbai witnessed an addition of 5.7 million sq ft while Delhi added 8.1 million sq ft.

"Delhi NCR, Bengaluru and Mumbai followed by Kolkata will be the front runners in absorbing majority of occupiers since these are sourcing and consumption hubs," the study report said.

Pune and Chennai will lead in servicing manufacturing clients' needs, followed by Delhi National Capital Region and Ahmedabad.

Srinivas added that tier-II locations like Guwahati, Coimbatore, Lucknow, Jaipur, Patna, Bhubaneshwar, Ludhiana, Vapi, Nagpur and Vizag / Vijayawada cumulatively will see a total addition in excess of 6 million sq ft of additional absorption.

Last year, manufacturing sector absorbed around 6 million sq ft pan-India, while e-commerce and 3PL leased around 20 million sq ft.

Fibre2Fashion News Desk (DS)


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