Asia Pacific logistics occupiers plan to expand warehouse portfolio

Logistics occupiers in Asia Pacific plan to expand their warehouse portfolio in the next three years, with a focus on high-quality facilities located in prime areas near customers and public transport, according to a new CBRE survey.

The survey of 120 companies across Asia Pacific found that 68 percent plan to acquire and occupy more space over the next three years, down from 78 percent in 2021, as pandemic-induced spike in demand for logistics has moderated. Occupiers are now focusing on enhancing operational efficiency, while maintaining a strong appetite for logistics space.

While most occupiers are concentrating on established and home markets, omnichannel retailers, manufacturers and third-party logistics service providers are the key drivers of demand for logistics space. High value-added industries are also expanding their logistics footprints in the region to diversify their supply chains.

More than half (56 percent) of respondents prefer logistics asset