US-based Panattoni to invest $200 M to build industrial and logistics parks in India
- ByStartupStory | July 26, 2022
Panattoni, a US-based company, will invest $200 million to build four industrial and logistics parks across major cities in India because it sees tremendous development potential amid increased demand for warehouses. With its introduction into India, Panattoni, a major leader in the development of the industrial and logistical real estate, makes its mark on the Asian market. Panattoni India Development Pvt Ltd, an Indian company, with its headquarters in Bengaluru.
Sandeep Chanda, Managing Director, India, Panattoni, felt optimistic about the industrial and logistics sector’s long-term future in the Indian real estate market. In India, the third-party logistics, e-commerce, and manufacturing sectors have been driving up demand for high-quality locations to establish industries and warehousing in an integrated park with the availability of all essential infrastructure.
For the initial phase of the India initiative, the company is in talks with landowners to buy about 250 acres of property in Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru, and Pune to develop four projects. Land, building expenses, and other expenses are included in the anticipated investments. A special purpose vehicle that will be established independently for the development of each project will be used to raise the capital.
Sandeep, who earlier served as Embassy Industrial Parks’ head of strategy and acquisitions, predicted that 75–80% of the space in the projects will be set aside for warehouses and the remaining 10–20% for the formation of businesses. Along with leasing out spaces to tenants, the corporation will adhere to its global strategy and withdraw from each project once development is complete.
About Panattoni
Panattoni Development Company, Inc., along with its European and Canadian affiliates (collectively “Panattoni”), was founded in 1986 by Carl Panattoni and is one of the world’s largest privately held, full-service real estate development companies.
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