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Real estate in industrial and logistics record over 50% demand growth
The Business Guardian
|October 27, 2024
Real estate business in the industrial and logistics sector in India demonstrated robustness in the July-September quarter, driven by third-party logistics and manufacturing.
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According to Savills, a global real estate advisory firm, the absorption in the industrial and logistics sector was at 17.5 million square feet, up from 11.4 million square feet in the same quarter of 2023.
This represents a substantial year-on-year increase of 53.5 per cent. According to the consultancy firm's report, Tier I cities led the charge in absorption, accounting for 14.0 million square feet (80 per cent) of the total, while Tier II and III cities contributed 3.5 million square feet (20 per cent).
This story is from the October 27, 2024 edition of The Business Guardian.
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