MUMBAI: JLL India - Head of Operations, Logistics & Industrial, Chandranath Dey recently said that a yearly growth of 48 per cent was seen in 2019 with net absorption of about 25 million sq ft, while in the pandemic year of 2020, the net absorption in the first three quarters dropped to
13 million sq ft.
In spite of rising raw material costs and global inflationary pressures, demand from consumers has led to a rapid V-shaped recovery with double-digit growth in the warehousing sector. The demand, in fact, is expected to breach previous all-time highs by the end of the year, say experts.
The first three quarters of this calendar year saw an all-time high net absorption of 28 million sq ft of warehousing space. In comparison, net absorption declined by 12 million sq ft during the pandemic year from pre-pandemic levels.
