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Demand for warehouse space witnessed rise in Kolkata in the last two years as manufacturing and consumption majors like Shoppers Stop, Manyavar, Philips, Linc acquired close to 10 lakh sq ft land for warehouses in the city.
“We are seeing major impact of the Eastern Dedicated Freight Corridor project on the warehousing space in peripheral Kolkata area. The area around the project has got impetus due to large funding from international agencies and the Central Government.
Many companies have expressed interest and the demand is only going to go up as the project takes a better shape,” said Samantak Das, Chief Economist and National Director, Research, Knight Frank India.
“Demand in warehousing is emanating from two major drivers manufacturing and the consumption (retail sector) that are trying to tap the potential of the eastern market and making Bengal the nodal point,” Das added. Among the few large deals that took place in the last two years most of them were in the 24-acre, Srijan Industrial Logistic Park on Bombay Road (NH6) and near Kona Expressway, Howrah.
“Every three years, the demand in warehousing space goes up by approximately 15 per cent. The year 2015-2016 has seen huge demand in the segment with lot of retail brands entering in the East India market. National brands in manufacturing have establishing a strong distributor network in and around Kolkata,” said real estate firm source.
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