Panattoni enters India; to invest $200 mn on building 4 logistics parks
US-based Panattoni has forayed into India and will invest USD 200 million to develop four industrial and logistics parks as it seeks to tap the growing demand for warehousing spaces across major cities.
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.
In an interview with PTI, Sandeep Chanda, Managing Director India, Panattoni, sounded bullish on the long-term growth of the industrial and logistics segment of Indian real estate as demand for quality spaces rises from third-party logistic, e-commerce and manufacturing sectors.
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.
'We will be investing USD 200 million (around Rs 1,597 crore) for the ...