Panattoni, a global leader in industrial & logistics real estate development, has debuted in the Asian market with its entry in India. Indian venture, Panattoni India Development Pvt Ltd, is headquartered in Bengaluru. The company is holding discussions with land owners to purchase around 250 acres of land in Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru and Pune to develop four projects in the first phase of the India venture.
They will be investing USD 200 million (around Rs 1,597 crore) for the development of initial four industrial and logistics parks comprising 6.5-7 lakh leasable area.
The proposed investments include land, construction and other costs. Chanda said the company would also rope in global institutional investors to develop these four projects. The fund will be raised at the special purpose vehicle (SPV) level to be created separately for the development of each project. However, the company is not averse to developing small 25 acres park. The company will also follow its global strategy to exit from each project after development and complete the lease out of spaces to tenants
Highlighted that the global firm has established itself as a major industrial and logistics real estate developer in North America and Europe as followed:
1. Company will facilitate investors' access to these assets and support the sustainable growth of India's economy and employment
2. Global manufacturing hub, supported by global firms' growing interest in diversifying their dependence on China
3.The fast adoption of e-commerce in India is also fueling demand for warehouses. Greater supply chain efficiency, rapid e-commerce growth.
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