India’s Industrial and logistics real estate quarterly demand dropped by 30% in the first quarter of 2020, according to JLL’s latest report “COVID-19: Industrial & Logistics Sector in India. Impact and Opportunities,” released today.
This has been lower than the previous first quarter of last three years (2017 – 2019) demonstrating a contraction of approx due to nationwide lockdown.
India’s warehousing sector, driven by new supply in eight major metros including Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi NCR and Pune, saw an approximately 15% contraction (in mn sq. ft.) during January-March, the first quarter of 2020. Net absorptions stood at 5.9 mn sq. ft. in the midst of the lockdown across the country starting March 2020.
The quarterly new supply addition is higher than the average quarterly new supply addition of first quarter in the last three years (between 2017–2019) which demonstrates that the impact of lockdown has likely not set in…
