CBRE plans to bring investors to develop data centre hub in city – Times of India

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Kolkata: Coldwell Banker Richard Ellis (CBRE) South Asia is planning to attract investors for the development of a data centre hub in the city.
“The data centre sector is growing in India and several such centres are also coming up in Kolkata. Two basic requirements for the development of data centres are ample water and power and the City of Joy has both.So, we are planning to draw the attention of the investors and bring them to Kolkata for developing data centres,”Anshuman Magazine, chairman and CEO – India, South-East Asia, Middle East and Africa, CBRE told TOI on Monday.
Magazine also expects that the industrial and logistics sector in Kolkata will record a five-year high supply at 5.2 million square feet in 2023 owing to the completion of several pent-up projects across the city and adjacent areas.
With e-commerce and retail push in Kolkata, warehouse and logistics facilities are coming up at strategic locations in Taratala, Maheshtala, Uluberia, Dankuni and Dhulagarh among other areas off NH-2 and NH-6.
“The anticipated absorption of 3.5 million sq. ft. in 2023 indicates a positive outlook for leasing activities, suggesting a potential surge in demand for commercial spaces. Big institutions like Welspun and Blackstone etc. are putting in money in the logistics sector,” he said.
As for the residential real estate market, the city has seen a three-fold jump in sales, from 4,400 units in 2019 to 14,600 units in 2023 (January-September). The CBRE has estimated that the sales will cross 18,600 units this year. “Peripheral locations like Rajarhat, New Town, Joka, Southern Bypass, EM Bypass, Lake Town and BT Road are attractive locations for driving growth in residential real estate property sales,” said Magazine.
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