Lucknow region to generate 70k jobs in 5 years as logistics hub: CBRE
The Lucknow region in North India is poised to become a major logistics hub, attracting investments from Amazon, Flipkart, and more. It is projected to generate 70,000 jobs in the coming years.
The Lucknow region in North India is swiftly emerging as a crucial industrial and logistics hub, with predictions of creating approximately 70,000 direct employment opportunities over the next five years, as per a recent statement by property consultant CBRE South Asia.
The region has witnessed substantial investments from key players like Amazon, Mondelez, and Flipkart, amounting to around Rs 400 crore in the past five years. Additionally, an additional Rs 70 crore investment is anticipated for warehouse development within the city.
SURGING DEMAND FOR WAREHOUSING SPACE IN LUCKNOW
Lucknow region to generate 70k: The demand for quality warehousing space has been consistently on the rise in Lucknow over the last five years, reaching record levels in FY23, with total leasing of warehousing space at 0.18 million square feet in 2022-23 compared to 0.11 million square feet in the previous year.
LARGE-SCALE INVESTMENTS ATTRACTED BY LUCKNOW’S STRATEGIC LOCATION
With seamless access to East, West, and Central India, Lucknow, the capital city of Uttar Pradesh, has positioned itself as one of the most important consumption markets in the state, becoming one of Northern India’s largest logistics hubs. #Lucknow region to generate 70k
Giants like Amazon, Mondelez, Flipkart, Tata Croma, Airtel, DHL, Whirlpool, Delhivery, Ecom Express, and Mahindra Logistics have already set up warehousing facilities in the region.
POTENTIAL FOR JOB CREATION AND ALLIED ACTIVITIES
The flourishing warehousing sector in Lucknow has the potential to generate approximately 70,000 direct employment opportunities and an additional 35,000 jobs in allied activities such as transportation and external vendors over the next five years, based on CBRE estimates.
ENHANCED CONNECTIVITY STRENGTHENS LUCKNOW’S POSITION
Lucknow’s advantageous position has been further reinforced by multi-city metro rail projects in Lucknow, Kanpur, Meerut, and Varanasi, along with the upcoming international airport at Jewar and a new airport in Kushinagar. Lucknow region to generate 70k
These projects have bolstered the region’s connectivity advantage, attracting more businesses and investments.
IDEAL LOCATION FOR WAREHOUSE DEVELOPMENT
The state capital, Lucknow, has become an ideal location for the development of warehouses. Although e-commerce players have been the primary drivers of the Lucknow market, FY23 saw a significant increase in demand from 3PL (third-party logistics) companies.
CBRE’s report showcases the bright prospects for Lucknow as an industrial and logistics powerhouse, presenting promising opportunities for job seekers and businesses alike. As investments continue to pour in, Lucknow’s status as a key player in North India’s industrial landscape is set to solidify in the coming years. Lucknow region to generate 70k