Despite facing challenges in the first quarter of 2024, the industrial sector remains relatively strong and resilient. While data indicates a slowdown in net absorption compared to previous years, there are positive indicators for future growth, including robust demand for new data centers, industrial and manufacturing spaces, and infrastructure projects. The surge in e-commerce during the pandemic has provided a solid foundation for the industrial sector, with consumer expectations for quick delivery driving continued growth. Additionally, onshoring of manufacturing and a focus on diversified supply chains further bolster the industry's outlook. Although building and inventory expansion may be delayed until there is some relaxation in interest rates, the overall trajectory for industrial remains positive and poised for an eventual upsurge.
