U.S. based Panattoni Group, one of the world’s largest industrial real-estate developers, is planning to invest $100 million in India every year for a few years to expand its base in this emerging market, Robert Dobrzycki, CEO and co-owner, Panattoni Europe, U.K., Middle East & India said in an interview.
The Group as part of its plan to set up industrial warehouses in key markets in India held the groundbreaking ceremony of its first warehouse project in India at Panattoni Park NH71 in Delhi NCR on Thursday.
The Grade A warehouse park to come up with an investment of ₹120 crore will be operational in mid 2025.
In the first phase the park will offer over 32,000 square meters of space, and will be developed on a site area of 66,000 sqm, making it ideal for a wide range of industrial & logistics needs, the company said.
“India is a vital hub for our global operations and it will be a long term market for us. There will be substantial growth in this market. We are committed to accelerating our expansion across the country in the coming years,” Mr. Dobrzycki said.
He said the Group’s Indian entity Panattoni India Development Pvt Ltd is looking for land to set up warehouses in Mumbai, Bengaluru, Chennai and Pune in due course. The company has also plans to foray into tier 2 markets.
Sandeep Chanda, Managing Director India, Panattoni, said that the NCR project would provide employment to about 500 people and the company has started looking for industrial clients who would commence logistics operations from the park.
“This project will leverage our access to a vast international occupier network, meeting the growing demand from Indian companies for sustainable industrial and logistics real estate,” he said.
“The trends driving this demand, such as increased supply chain efficiency, the surge in e-commerce, and the consolidation of third-party logistics providers, reflect global developments that are now strongly present in India,” he added.
