Covid-19 impact: E-commerce drives demand for warehousing in H1

Even as leasing of office and retail properties was hit in the first half of the calendar year, leasing of warehousing spaces is on an upswing.

Embassy Industrial Parks (EIP), Stellar Supply Chain Solutions, and TVS Industrial & Logistics Parks, among others, have seen a growth of anything between 30 per cent and 100 per cent in H1CY21.

The reason for this is growing demand from e-commerce, pharmaceuticals and third-party logistics firms during the pandemic.

Leasing of Grade A warehousing spaces since January to date stands at 13 million sq ft, compared to 9.4 million sq ft during the same period last year.