LOGISTICS & INDUSTRIAL (L&I) real estate leasing volume for 2024 is expected to reach 50-53 million square feet (MSF), marking the third consecutive year with leasing volume exceeding 50 million sq ft, according to a report by property consultant Cushman & Wakefield.
As of October 2024, leasing volume has already surpassed 41 million square feet across the top eight real estate markets. Since the introduction of the Production-Linked Incentive (PLI) scheme in 2020, industrial leasing has seen strong growth. Moreover, the rapid expansion of retail and e-commerce has fueled significant activity in the warehousing sector, according to Cushman & Wakefield. "For 2025, we foresee the new-normal level of demand to sustain given the widening of the consumption base in India alongside robust industrial activity witnessed in recent years. India is also a beneficiary of the China+1 diversification strategy followed by global manufacturing firms," it said.
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