I&L sector takes 31.6 mn sq ft on lease in 2022, highest since 2019

Delhi-NCR led the absorption with 7.3 million sq ft, followed by Mumbai and Bengaluro with 6.1 million sq ft and 5.2 million sq ft, respectively

Despite global headwinds and a slowdown in e-commerce demand, the space taken on lease by the industrial & logistics sector grew eight per cent year on year to touch 31.6 million sq ft in calendar 2022. This was the highest since the 2019 peak of 32 million sq ft, according to a report by real estate consultant CBRE.

The study says Delhi-NCR led the absorption with 7.3 million sq ft in CY22, followed by Mumbai and Bengaluro with 6.1 million sq ft and 5.2 million sq ft, respectively. The three cities accounted for almost 60 per cent of leasing activity