Office: Chennai recorded a significant growth in leasing activity, which spiked by 127% q-o-q with the full year gross leasing activity reaching 5.8 msf by end-2019.
Retail: Demand polarisation is clearly visible, with prime, superior-grade mall operating at near 100% occupancy levels, even as the average malls struggle to retain retailers as they continue to cede ground to prime malls and even prominent main streets.
Residential: While, 2019 saw lower residential launches on a y-o-y basis, some positive sentiment was imparted with Q4 witnessing a 48% q-o-q growth in launches. With 2,660 units launched, the quarterly launches were highest for the year.
Industrial: Chennai continues to witness healthy demand traction in multi modal logistics parks, driven by automobile and manufacturing industries while the supply side too is getting strengthened with prominent developers increasing their footprint in the city’s logistics and warehousing sector.
India Investment: Foreign investors held close to 73% share in investment volumes in 2019; large platforms targeting development of office and industrial assets continue to be formed.
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