"Panattoni Marks Debut in India with ₹110 Crore Investment in Grade A Warehouse Park"

Global industrial real estate developer Panattoni has announced its entry into the Indian market with the launch of its first project-a Grade A warehouse park located in Delhi, National Capital Region (NCR). The company has committed an investment of ₹110 crore for the initial phase of the development.

Covering an extensive 717,000 square feet in Phase 1, the project has the potential for a built-up area of 360,000 square feet, according to company statements. This substantial investment underscores Panattoni's dedication to contributing significantly to India's industrial growth. Construction is slated to commence in March 2024, with completion expected by the end of the fourth quarter of FY25.

In collaboration with its partners, Panattoni plans to invest 100 million euros across various projects in the next year. The company views India as a crucial hub for its global business and envisions rapid expansion in the country in the coming years.

Strategically located along National Highway 352 (formerly known as National Highway 71) in the Delhi-NCR region, the warehouse park is strategically positioned within a warehousing cluster. It benefits from close proximity to major retailers, third-party logistics providers (3PL), e-commerce entities, and industrial occupiers.

The establishment is designed to meet diverse industrial requirements and places a strong emphasis on eco-friendly methodologies and innovative infrastructure. Notably, the park prioritizes sustainability by incorporating 100 per cent wastewater recycling.

Sandeep Chanda, Managing Director India at Panattoni, expressed enthusiasm about the company's foray into the Indian market, stating, “Serving as a gateway to India’s dynamic industrial landscape, Panattoni Park NH 71 marks our first bold step into India’s thriving market. We’re excited to introduce Phase 1 of our warehousing establishment.” The development is poised to make a significant impact on India's industrial sector, aligning with Panattoni's global reputation for innovative and sustainable real estate solutions.

HBL