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Demand for warehouse space in tier II cities on the rise : Report, ET Auto

Warehouse And Industrial Park: In 2023, over 5 million sq ft of warehousing space was taken by companies in tier II cities like Lucknow, Chandigarh, Nashik, Hosur and Coimbatore, which are emerging as the central industrial corridors, with Indore, Chandigarh, Coimbatore, Lucknow, Nashik and Jaipur airports being equipped with cargo handling units. ....

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Desi versus videshi retail: Global brands are making more space for themselves

Global brands like Zara, H&M, Bugatti Fashion, La Vie en Rose, Adidas, Nike, West Elm, Starbucks, Uniqlo, and Marks & Spencer are growing rapidly in India. Small towns with brand-conscious buyers and rising disposable incomes are driving their expansion. International brands accounted for 25% of retail leasing in 2023, up from 14% the previous year. Canadian lingerie retailer La Vie en Rose debuted in India, while Rimowa, Bugatti Fashion, West Elm, and Victoria s Secret expanded their presence. In addition, several global brands have entered tier-II cities, capitalizing on the strong demand from smaller cities. Desi retailers, on the other hand, have slowed down their store expansion due to a focus on profitability and limited market opportunities. ....

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35 domestic and global brands entered tier-II cities in 2023

Most non-metro cities are established trade and business hubs and are now witnessing multinational corporations and start-ups setting up offices as well. The growing population in tier-II cities is further propelling demand for a diverse range of retail offerings. ....

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office leasing: Office leasing during Oct-Dec 23 was highest ever quarterly leasing : CBRE

Development completions increased by about 13% Y-o-Y to reach 56.7 million sq. ft., an all-time high during 2023. Developers continued to exhibit their efforts towards sustainability, with nearly half of the newly completed developments during 2023 being green-certified (LEED or IGBC). ....

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BFSI sector's share in office space leasing doubled in three years

In the first nine months of this year, the BFSI (Banking, Financial Services, and Insurance) sector became the top driver for office leasing, a change in trend after a decade. Major global BFSI companies set up Global Capability Centres (GCCs) in India. Meanwhile, the IT sector s leasing share dropped from 37% in 2019 to 23% in 2023 due to a slowdown, while BFSI s share rose from 11% to 23% during the same time. ....

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