Addition, absorption of warehousing space rises steeply on quarterly basis

The addition and absorption of warehousing spaces has grown on a quarterly basis. About 3.45 million square feet of warehousing stock was added in tier-1 cities in  Q3CY2020, indicating a growth of 88 per cent compared to the previous quarter and down 34 per cent compared to Q3CY2019.

Around 3.81 mn sq ft was absorbed in tier 1 cities in Q3CY2020, indicating an increase of 93 per cent compared to the previous quarter and decline of 33 per cent compared to Q3CY19, according to data analytics firm CRE MATRIX.