Demand for logistics, industrial spaces seen at 50-53 mn sq ft in 2024: Cushman & Wakefield
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Real estate consultant Cushman & Wakefield said that as of October 2024, the leasing volume has already surpassed 41 million square feet across the top-8 real estate markets.
«Ever since the Production-Linked Incentive (PLI) scheme was introduced by the government in 2020, the industrial leasing volume witnessed healthy growth. Besides, the strong emergence of retail and e-commerce has led to intense activity in the warehousing space too,» the consultant said.
For 2025, Cushman & Wakefield foresee the new-normal level of demand to sustain given the widening of the consumption base in India alongside robust industrial activity witnessed in recent years.
India is also a beneficiary of the China+1 diversification strategy followed by global manufacturing firms, the consultant noted.
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