Double-digit industrial rental growth has kicked in across many of the world’s major cities, mitigating the impact of higher construction costs and supporting high logistics values as inflation and interest rate start to rise, said Goodman Group chief executive Greg Goodman.

After the logistics developer and fund manager posted a whopping $2 billion statutory profit for the six months to December and upgraded its full-year earnings guidance for the second time, Mr Goodman said rents were rising 4 to 5 per cent annually “at the low end’ but 10 to 20 per cent in other parts of the world such as in Los Angeles, Sydney and London.