Leasing of warehouse space to rise 8 pc to record 42 mn sq ft in 2022: Report

Projections till December 2022 indicate a record net absorption of 42.5 million square feet in 2022 as against 39 million square feet in 2021, JLL India said in a statement. Net absorption in H1 2022 January - June 2022 rose to 19 million square feet from 14 million square feet in the year-ago period.

Net leasing of warehousing space is estimated to rise 8 percent to a record 42.5 million square feet in 2022 across the top eight cities on better demand, according to JLL India. The data comprises both Grade A and B warehousing facilities across Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR, and Pune. ''Projections till December 2022 indicate a record net absorption of 42.5 million square feet in 2022 as against 39 million square feet in 2021,'' JLL India said in a statement. Net absorption in H1 2022 (January - June 2022) rose to 19 million square feet from 14 million square feet in the year-ago period. Third-party logistic players have remained the largest contributor in terms of warehousing demand over the years. ''Due to a behavioral change from making offline purchases to online, demand for e-Commerce has gained significant traction over the last few years,'' it added.