Mumbai, Delhi-NCR, and Bengaluru lead APAC logistics rental growth

Mumbai, Delhi-NCR, and Bengaluru have emerged as top performers in the Asia-Pacific logistics market, ranking among the top 10 markets for rental growth in the first half of 2026. According to Knight Frank, these Indian hubs outperformed the broader APAC region, which saw a half-year rental growth of 1.2%.

Mumbai Metropolitan Region (MMR) led the Indian markets with a 5.3% year-on-year rental increase, ranking fourth among 18 tracked APAC markets. Delhi-NCR followed with 5.2% year-on-year growth, while Bengaluru recorded a 4.4% increase.

Demand in India is being driven by manufacturing growth, domestic consumption, and supply-chain diversification. Key occupiers include e-commerce companies, retailers, and third-party logistics providers seeking modern facilities equipped for automation and sophisticated distribution. Additionally, investments in semiconductor and advanced manufacturing supply chains have bolstered activity. The market shows a trend toward ‘flight-to-quality,’ with increased demand for high-functionality, technologically integrated, and sustainable warehouse spaces.