The market is set to remain vibrant through 2018, though based on current plans from developers, we could see the vacancy rate coming under some upside pressures.
The gross leasing activity of storage spaces reached 430,000 sqm in the first three quarters of 2017, with deliveries of class A warehouses likely surpassing the half a million mark for the whole year (a record result). As such, overall vacancy remained subdued, below 5% nationwide.