CHENNAI: According to the latest findings from CBRE Group (a large commercial real estate services firm), the country witnessed an increased market activity for warehouses and logistic spaces during the first half of FY 12. Demand for logistics and warehousing spaces was not limited to big cities such as Delhi NCR (national capital region), Mumbai and Bangalore, but was also spread across other tier II cities.
"E-tailers invested heavily into strategically located assets and have been taking up quality warehousing space across India, primarily in NCR, Mumbai and Bangalore. Availability of large land parcels at relatively low cost, connectivity to multiple markets across states and industrial clusters, has led to the emergence of some tier-II and tier-III cities as favoured destinations for the development of logistics parks and warehouses," CBRE noted.
Not only that. Rental values witnessed growth across most micro-markets due to higher demand for warehousing and logistics facilities. "The rising level of activity in logistics and warehousing space is testimony to the growing confidence of domestic and international retailers in India. Factors such as enhanced connectivity, implementation of various reforms and completion of major infrastructure projects are expected to further augment the logistics sector across India," Anshuman Magazine, chairman and managing director, CBRE, South Asia said.
FMCG majors, white good manufacturers and consumer electronics firms are also on an expansion spree and are steadily increasing their footprint across the country. While built-to-suit options have been the preferred mode of expansion for most occupiers, large size transactions of around 10,000 to 15,000 square feet of warehousing space have been reported in the first half of 2012. Developers have joined in the fray by taking initiatives to provide modern logistics park with quality warehouse facilities.
Source:
articles.timesofindia.indiatimes.com
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