CBRE South Asia Pvt. Ltd reports that Kolkata's Industrial and Logistics (I&L) sector is poised for a 5-year high supply in 2023, reaching approximately 5.2 million sq. ft. The completion of pent-up projects in the city and its peripheries contributed to this surge. Kolkata's strategic location as an entry point to the east and access to land-locked countries enhances the I&L sector, with leasing expected to reach 3.5 million sq. ft. in 2023. The city's potential for industrial and commercial development is concentrated in NH-2, NH-6, and Taratala regions, particularly in Dankuni, Singur, and evolving areas like Uluberia.
CBRE South Asia Pvt. Ltd. reports a significant upswing in Kolkata's Industrial and Logistics (I&L) sector, anticipating a 5-year high supply in 2023, totaling around 5.2 million sq. ft. This surge results from the completion of pent-up projects across the city and its peripheries. Kolkata's strategic significance as the eastern entry point to the country, with further connectivity to land-locked nations like Nepal and Bhutan, combined with the state's industrial prowess, strengthens the I&L sector. Projections indicate that total I&L leasing in the city for 2023 will reach approximately 3.5 million sq. ft., maintaining levels seen in 2022. Notably, leasing from January to September 2023 already stood at 2.7 million sq. ft. The city currently boasts nearly 10 million sq. ft. of Grade A logistics developments spread across NH-2, NH-6, and Taratala regions. Primarily, I&L growth in Kolkata is concentrated in the micro-markets of NH-2 and NH-6 due to their strategic positioning along the National Highway. This signals the potential for continued growth in both industrial and commercial activities, particularly in Dankuni and Singur. NH-6 emerges as a diverse micro-market, encompassing industrial zones like Dhulagarh and evolving areas such as Uluberia, reflecting a combination of industrial and residential development. In the Taratala micro-market, locations like Taratala Road and Hyde Road extending up to Maheshtala exhibit a distinctive mix of industrial and commercial activities. The robust I&L sector in Kolkata is further supported by the city's strategic location, conducive to trade and commerce, and the ongoing development of Grade A logistics infrastructure. The uptick in leasing activities, especially in micro-markets, underscores the city's attractiveness for industrial and commercial ventures. This positive momentum in Kolkata's I&L sector not only signifies economic resilience but also underscores the city's role as a vital hub for logistics and industrial activities in the eastern region. The multifaceted growth observed in different micro-markets further contributes to Kolkata's standing as a dynamic and evolving business destination. CBRE South Asia Pvt. Ltd.'s findings point to a promising trajectory for Kolkata's Industrial and Logistics sector, positioning the city for sustained growth in the coming years.
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