Indospace plans 1.5 million sq. ft. park in Bangalore

Indospace is expanding its footprint in the South and plans to develop a 1.5 mn. sq. ft., park in Narasapura, Bangalore.

The park will boost IndoSpace’s footprint in the manufacturing and industrial destination of Karnataka, cater to the warehousing requirements of companies across sectors such as automotive, engineering, electric vehicles, e-commerce, and FMCG, amongst others.

“By offering a solid foundation with our Grade A logistics infrastructure to customers across sectors, we aim to tap into the manufacturing boom being witnessed in the state of Karnataka. In addition, the launch of our new park in Narasapura will further help in attracting global manufacturers to the state of Karnataka,” said Rajesh Jaggi, Vice-Chairman – Real Estate, Everstone Group.

IndoSpace, India’s largest investor and manager of Grade A industrial and logistics real estate continues to be bullish on the sector in the country and plans to acquire land across major warehousing and industrial hubs in the country as it looks to garner more market share.

IndoSpace also launched two parks in South India, in Vallam and Oragadam areas in Tamil Nadu, adding 118 acres to its portfolio.

The Bengaluru warehousing market has seen 4.30 mn. sq. ft. leasing in FY-2020. By consolidating the warehousing market, developers are venturing into the city’s prominent clusters with land acquisitions for greenfield developments and making it a preferred destination for Japanese, European and Korean companies in electronics, FMCG, and FMCGsectors.

IndoSpace has a portfolio of over 43 million sq. ft across 41 industrial and logistics parks pan India. In 2020, it spent around $500 million across nine acquisitions. IndoSpace plans to add four million sq. ft of warehousing space by the end of 2021.


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