IndoSpace plans 5 new industrial parks to facilitate growing logistics requirements
Dec 13, 2017: IndoSpace is launching five new mega parks across the Delhi-NCR region, Mumbai and Bengaluru. Along with the recent expansion and development of its existing Ranjangaon park in Pune, these new parks will add around 10 million square feet of leasable logistics and light manufacturing space to IndoSpace’s portfolio.
This growth in industrial real estate will take IndoSpace’s operational and underdevelopment pipeline to around 30 million square feet, catering to the rising demand in India for Grade A warehousing and light manufacturing facilities from companies across multiple sectors.
The five planned parks will be spread across India’s key industrial and logistics hubs at Narasapura (Bengaluru), Badli (National Capital Region), Bhaproda (National Capital Region) and two parks at Khopoli (Mumbai).
“This significant expansion highlights IndoSpace’s focus on strongly supporting growth in India’s logistics and light manufacturing sector, which will robustly expand due to improved infrastructure across the nation, the landmark GST reform, and a fast-growing e-commerce sector,” said Rajesh Jaggi, managing partner, real estate, Everstone Group.
“The government’s welcome move of granting infrastructure status to the logistics sector further strengthens our positive outlook for IndoSpace, as well as for the sector as a whole, because this would help the sector access infrastructure lending at competitive rates. Logistics players will also have multiple instruments to raise money, including funds from insurance companies and pension funds with longer tenor,” added Jaggi.
IndoSpace is a joint venture between the Everstone Group, a major India and Southeast Asia-focused private equity and real estate investor, and Realterm, a US-based global industrial real estate leader.
Photo Caption: IndoSpace Chakan