COMMERCIAL SPACES: WAREHOUSES

From an oversupply and low rental scenario, this sector of the market reacted quickly in the first quarter of 2022.?

There was a notable take up of space in the 500 - 3,000 square meters range for logistics and storage space resulting in full occupancy in the prime estates such as York and Krimanvi by the second quarter of 2022.?

Rentals for prime space should increase from the fourth quarter of 2023 or the first quarter of?2024?as logistics will grow with expanding local and regional business opportunities and planned improved infrastructure around the country.?

There will be continuous demand for space to lease; The market is split between?higher specification?units demanded by the corporates - for which?there is less space on the market - and secondary warehouse space?where there is an oversupply on the market.