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Amazon, e-commerce rivals fuel commercial property boom in India

A zoomed illustration image of a man looking at a computer monitor showing the logo of Amazon is seen in Vienna  Amazon, e-commerce rivals fuel commercial property boom in India 2015 01 23T114045Z 1006990001 LYNXMPEB0M0K8 RTROPTP 2 CTECH US INDIA PROPERTYBy Aditi Shah NEW DELHI (Reuters) – Internet retailer Amazon and its fast-growing local rivals are driving a boom in commercial property leasing in India as their storage needs rise, with shoppers in the country going online to buy everything from televisions to groceries. Other estimates indicate office rents in India's tech hub Bengaluru could rise by as much as a fifth in the next six to nine months as e-commerce companies add to demand. The result, say developers and analysts, is a speedier than expected recovery for India's commercial property sector, badly dented by two successive years of sub-5 percent economic growth. "The best has yet to come for the sector and that will have a snowball effect on the property sector with increased appetite for office space, logistics and warehouse," said Sigrid Zialcita, managing director, research for Asia Pacific at consultant Cushman & Wakefield.


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