Panattoni to invest $200 million in constructing 4 logistics parks in India

25 Jul 2022 , 09:11 AM

In an effort to meet the rising demand for warehouse space across major cities, US-based Panattoni has expanded into India and will invest USD 200 million to build four industrial and logistics parks.

With its introduction to India, Panattoni, a global pioneer in the construction of industrial and logistics real estate, made its debut in the Asian market. Bengaluru serves as the corporate office for the Indian company Panattoni India Development Pvt Ltd.

In an interview with PTI, Sandeep Chanda, Managing Director India, Panattoni, sounded upbeat about the industrial and logistics sector of Indian real estate’s long-term growth as demand for premium spaces from the manufacturing, e-commerce, and third-party logistic sectors develop.

For the initial phase of the India initiative, the business is in talks with landowners to buy around 250 acres of property in Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru, and Pune to construct four projects.

According to him, “We will invest USD 200 million (about Rs 1,597 crore) for the development of the first four industrial and logistics parks, totaling 6.5-7 lakh leasable square feet.”