Industrial and Logistics sector in Kolkata to record 5-year high in supply
Logistics (I&L) sector in Kolkata will record a 5-year high supply in 2023 as a result of the completion of pent-up projects across the city and its peripheries.
Total I&L supply in 2023 is likely to touch 5.2 mn. sq. ft.
Kolkata’s strategic location as the entry point to the country’s east and further to land-locked countries such as Nepal and Bhutan and the state’s industrial prowess has further boosted the city’s I&L sector.
Anshuman Magazine, Chairman & CEO — India, South-East Asia, Middle East & Africa, CBRE, said, “The current real estate landscape in the state, particularly in Kolkata, is witnessing a transformative phase where the infusion of quality supply is fueling absorption, propelling the growth trajectory of the state's real estate sector”.
Total I&L leasing in the city in 2023 is likely to touch ~3.5 mn. sq. ft.
sustaining 2022 levels. During the Jan-Sep’23 period total leasing in I&L sector in the city stood at 2.7 mn. sq.
ft. The city has close to 10 mn. sq.
ft. of Grade A logistics developments in NH-2, NH-6, and Taratala regions.
“Our observation of the Industrial & Logistics sector in Kolkata recording a 5-year high supply in 2023 with a notable absorption underscores the sector's resilience and dynamism. The anticipated absorption of 3.5 million sq.
