CBRE survey reveals logistics occupiers plan strong expansion in APAC amid supply crunch

Logistics occupiers have big plans to expand their warehouse footprint in Asia Pacific during the next three years on the back of growing optimism about the operating environment, reported a new CBRE survey.

The survey polled nearly 100 senior decision-makers overseeing the real estate logistics portfolios in companies ranging from third-party logistics (3PLs) to manufacturers, ecommerce platforms and retailers. It found that 78 percent of logistics occupiers intended to expand their warehouse portfolio, with slightly more than half of respondents eyeing significant growth. Emerging markets in Southeast Asia, such as Thailand, Vietnam, Indonesia and the Philippines are growth targets.

Heightened demand comes amid a drop in warehouse vacancy in major Asia Pacific markets to less than 4 percent in the second quarter 2021. Net warehouse absorption in major Asian markets also reached its highest first-half figure on record at 35.6 million square feet in first half 2021.