NEW DELHI: Demand for industrial & warehousing space declined 47 per cent in Mumbai and Pune to 17 lakh square feet in January-March this year, according to Colliers India. Real estate consultant Colliers India said that demand for industrial & warehousing space in Mumbai declined to 10 lakh sq ft in January-March 2025 from 19 lakh square feet in the year-ago period.
Similarly, Pune saw a 46 per cent decline in demand for industrial & warehousing space to 7 lakh sq ft from 13 lakh sq ft.
Overall, the consultant said that industrial & warehousing demand across the top eight cities remained robust.
The gross leasing of industrial & warehousing space rose 15 per cent in January-March across top eight cities to 90 lakh sq ft from 78 lakh square feet in the year-ago period.
“The strong industrial & warehousing space uptake in the first quarter of 2025 was marked by robust demand across diverse occupier sectors,” said Vijay Ganesh, Managing Director, Industrial & Logistics Services, Colliers India.
Engineering and e-commerce sectors emerged as key demand drivers, followed by 3PL (third-party logistics), with each recording close to 20 lakh sq ft of quarterly demand or more, he said.
Automobile players also picked up significant Grade A industrial & warehousing space at 13 lakh sq ft.
“These are healthy signs of overall growth, reflecting broad-based demand which aligns with domestic macro-economic indicators,” Ganesh said.
The first quarter of 2025 calendar saw new supply to the tune of 94 lakh sq ft, a 16 per cent YoY (year-on-year) rise from 81 lakh square feet in the year-ago period, the consultant said.
