A US-based company called Panattoni has entered India and plans to invest $200 million to build four industrial and logistics parks there in an effort to meet the rising demand for storage space in major cities.
With its launch into India, Panattoni, a global leader in industrial & logistics real estate development, has made its debut in the Asian market. Panattoni India Development, an Indian company, has its headquarters in Bengaluru.
Sandeep Chanda, Managing Director India, Panattoni, seems optimistic about the industrial and logistics sector of Indian real estate’s long-term growth as demand for quality spaces increases from the manufacturing, e-commerce, and third-party logistic sectors.
In order to create four projects for the first phase of the India initiative, the company is in talks with landowners to purchase about 250 acres of property in Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru, and Pune.
The corporation is spending $200 million (about Rs 1,597 crore) to build the first four industrial and logistics parks, totaling 6.5-7 lakh square feet of rentable space. The projected investments cover land, building expenses, and other expenses. To build these four initiatives, the business would also enlist the help of international institutional investors.
To be developed specifically for the development of each project, the finance will be raised at the level of the special purpose vehicle (SPV).
In the projects, 75–80 percent of the space will be set aside for warehouses, while the remaining space will be used to develop industries, according to Chanda, who was formerly head of strategy and acquisitions at Embassy Industrial Parks.
Additionally, the business will adhere to its global plan and end each project following development and full tenant leasing.
The CEO and co-owner of Panattoni Europe and India, Robert Dobrzycki, emphasised that the international company has made a name for itself as a significant industrial and logistics real estate developer in North America and Europe.
The organisation will make it easier for investors to access these assets and will help India’s economy and employment to grow sustainably. According to Panatonni, a major demand driver will likely be India’s goal of becoming a major hub for manufacturing, which is supported by a growing desire among multinational corporations to reduce their reliance on China and its supply chains.
India’s rapid adoption of e-commerce is another factor driving up demand for warehouses.
The most recent design and construction technology will be brought to India by Panattoni. The strong core demand for contemporary sustainable industrial and logistics real estate will be supplemented by their access to international institutional financing and a wide network of occupiers.
The underlying market drivers that India increasingly shares with its counterparts in the U.S. and Europe include increased supply chain efficiency, quick e-commerce growth, and consolidation among third-party logistics companies, he added.
One of the biggest industrial real estate developers in the world is the Panattoni Group, which includes Panattoni India Development. It makes investments worth about 8 billion euros annually on average.
Panattoni has created 544 million square feet of space with 46 offices spread across the United States, Canada, Europe, and Asia for more than 2,500 international clients.
Group Media Publication
Construction, Infrastructure and Mining
General News Platforms – IHTLive.com
Entertainment News Platforms – https://anyflix.in/
Legal and Laws News Platforms – https://legalmatters.in/
Podcast Platforms – https://anyfm.in/