Top 10 APAC cities with highest warehouse rent rise
WAREHOUSING & LOGISTICS

Top 10 APAC cities with highest warehouse rent rise

Bengaluru and Delhi-NCR have secured positions among the top 10 cities in the Asia-Pacific (APAC) region that witnessed a significant increase in warehouse rental rates over the past 12 months, according to a report by real estate consultancy Knight Frank published on Tuesday. However, the rental hike in these cities was comparatively lower than the APAC average of 10.4 percent, which was observed across 17 cities analyzed for the report.

As per the "Asia-Pacific Logistics Highlight H1 2023" report, warehouse rents in Bengaluru registered a 7.5 percent increase in the past year, while in Delhi-NCR, the rise was 6.6 percent. Mumbai, which narrowly missed the top 10 list, recorded a 4.2 percent uptick in warehouse rents.

Among APAC cities, Bengaluru and Delhi-NCR secured the 6th and 8th positions, respectively, in terms of rental rate growth. Knight Frank highlighted that demand in India's primary warehousing markets remains robust, nearing record levels. Both Mumbai and Bengaluru experienced substantial growth in leasing transactions, driven by rapidly diminishing vacancy rates over the last six months.

The report noted, "Activity in Delhi-NCR slowed marginally, albeit from the high base set in the previous period." While the e-commerce sector witnessed a dip in demand, this decline was offset by the third-party logistics (3PL) sector. Anticipating a revival during the festive season, the e-commerce sector is expected to regain momentum in the coming days.

The findings underscore the evolving dynamics of India's warehousing sector, driven by a mix of factors including e-commerce growth, third-party logistics, and seasonal fluctuations.

Bengaluru and Delhi-NCR have secured positions among the top 10 cities in the Asia-Pacific (APAC) region that witnessed a significant increase in warehouse rental rates over the past 12 months, according to a report by real estate consultancy Knight Frank published on Tuesday. However, the rental hike in these cities was comparatively lower than the APAC average of 10.4 percent, which was observed across 17 cities analyzed for the report. As per the Asia-Pacific Logistics Highlight H1 2023 report, warehouse rents in Bengaluru registered a 7.5 percent increase in the past year, while in Delhi-NCR, the rise was 6.6 percent. Mumbai, which narrowly missed the top 10 list, recorded a 4.2 percent uptick in warehouse rents. Among APAC cities, Bengaluru and Delhi-NCR secured the 6th and 8th positions, respectively, in terms of rental rate growth. Knight Frank highlighted that demand in India's primary warehousing markets remains robust, nearing record levels. Both Mumbai and Bengaluru experienced substantial growth in leasing transactions, driven by rapidly diminishing vacancy rates over the last six months. The report noted, Activity in Delhi-NCR slowed marginally, albeit from the high base set in the previous period. While the e-commerce sector witnessed a dip in demand, this decline was offset by the third-party logistics (3PL) sector. Anticipating a revival during the festive season, the e-commerce sector is expected to regain momentum in the coming days. The findings underscore the evolving dynamics of India's warehousing sector, driven by a mix of factors including e-commerce growth, third-party logistics, and seasonal fluctuations.

Next Story
Infrastructure Transport

Locals urge CM to opt for road bypass over flyover at Dandeavaddo

Chinchinim villagers respectfully requested Pramod Sawant, Chief Minister, to instruct the Public Works Department (PWD) and the National Highway authorities to construct a road bypass instead of a flyover on the Dandeavaddo stretch of NH66. The villagers, led by Sarpanch Frank Viegas and Velim MLA Cruz Silva, also raised the long-standing issue of building the Chinchinim Panchayat Ghar and a multi-purpose project on panchayat land that was acquired more than 15 years ago. The delegation met the Chief Minister at the St. Sebastian Chapel junction in Chinchinim as he was returning home from a..

Next Story
Infrastructure Transport

MLA Yashpal Suvarna Announces Malpe-Udupi Highway Construction from Nov 6

MLA Yashpal Suvarna instructed officials to commence work on the Malpe-Udupi Highway on Wednesday. A meeting took place, attended by MP Kota Shrinivas Poojary, Udupi MLA Yashpal Suvarna, and Kaup MLA Suresh Shetty Gurme, to discuss the National Highway 169A project, which spans from Malpe to Udupi, covering areas like Hiriyadka, Parkala, and Perdur. The project had experienced delays due to incomplete land acquisition, but compensation notices have now been issued to the landowners. Of the 214 land acquisition files, 19 pertain to government land, while 195 involve private owners. Notices ha..

Next Story
Infrastructure Transport

NHAI to build flyover and underpass on Jaipur's 200-Feet bypass

Following a recent survey, the National Highways Authority of India (NHAI) decided to construct a flyover and an underpass at the 200-Feet Bypass crossing, known to be one of the city's most congested areas. The Union Ministry of Road, Transport and Highways (MoRTH) is expected to float tenders for the project in January of the following year. Once construction begins, it is projected to take approximately one and a half years to complete. NHAI plans to submit a detailed project report (DPR) within the next two months. Ajay Arya from NHAI explained that the initiative aims to alleviate tra..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000