IndoSpace, India’s leading developer of industrial & logistics parks, plans to invest $1 billion in the country in the next five years to take its total investment to $1.75 billion. This additional investment will increase its development pipeline from 20 million square feet to 50 million square feet.
“In addition to growth in consumption and e-commerce, we see India’s great manufacturing potential being unlocked by the Government’s ‘Make In India’ program. This requires world-class industrial and logistics real estate, and as pioneers and leaders in this asset class we will continue to invest aggressively,” said Rajesh Jaggi, Managing Partner – Everstone Real Estate, and Co-CEO of IndoSpace.
Currently, IndoSpace, a joint venture between the Everstone Group and Realterm, operates world-class industrial and logistics parks in Pune, the National Capital Region, Bengaluru and Chennai. The company has robust plans to fund and expand its 17 industrial real estate projects across the country to support manufacturing, consumer and 3PL (third-party logistics) companies operating in India.
“It is critical that the enabling infrastructure such as land and facilities to manufacture and store goods are in place as India’s manufacturing engine gathers speed,” said Brian Oravec, CEO of IndoSpace, on the sidelines of Swedish Prime Minister Stefan Lofven’s recent visit to Pune where he reviewed the Swedish company Ericsson’s site at IndoSpace Chakan I’s sprawling 1.7 million sq.ft. industrial complex.
“Our aim as the leader in this space is to do our part to ensure that the required infrastructure is in place to make in India with ease,” added Oravec.
IndoSpace Chakan I houses Ericsson as well as other leading global companies, including Bosch, DHL, Leoni, Steelcase, Kubota and Delphi.
IndoSpace’s announcement came at the high-profile ‘Make in India’ week in Mumbai where Lofven and other foreign heads of governments as well as top Indian and international corporate leaders assembled.