IndoSpace expands in the north
by Shrutee K/DNS
Launches parks in Punjab and Haryana with a total area of over 110 acres
Doubles the acreage in Luhari, Haryana
Mumbai – IndoSpace, India’s largest developer of Grade A industrial real estate and logistics parks, announced its expansion in the North with the launch of parks in Rajpura, Punjab and Luhari, Haryana. These new parks will boost IndoSpace’s move towards its goal to build a portfolio of 120 million square feet of modern logistics infrastructure across India.
IndoSpace Rajpura, the only Grade A park in the region, is spread across 47 acres and is located at the junction of NH 44 and NH 7. Rajpura has emerged as the warehousing and logistics hub of Punjab due to its proximity to the tri-city (Chandigarh-Mohali-Panchkula) area and its well-connected rail and road links to the rest of Punjab, Himachal Pradesh, Delhi-NCR and Rajasthan.
IndoSpace Luhari III, close to the Delhi-Jaipur highway- in the heart of the warehousing hub in Gurugram (NCR), is spread across 67 acres. The site is within close proximity to several large industrial clusters, such as IMT Manesar, Dharuhera and Bhiwadi. IndoSpace currently has two operational parks in Luhari (Luhari I and Luhari II) spread across a combined area of 66 acres catering to the key markets in North India and with the new addition, IndoSpace doubles it acreage in Luhari.
“This significant expansion showcases IndoSpace's commitment to building Grade A logistics infrastructure to support the growth and modernization of the nation's supply chain. IndoSpace will continue to expand across existing as well as new markets in the future” said Rajesh Jaggi, Managing Partner- Real Estate, Everstone Group. Earlier this year, IndoSpace announced its foray into Gujarat with the launch of its park near Bavla, Ahmedabad.
IndoSpace has a portfolio of around 31 million square feet across developed and under-construction projects comprising 31 industrial and logistics parks in 9 cities. All parks are located in key manufacturing hubs - from the National Capital Region in the north to Chennai in the south - making IndoSpace the only national network in India.
About IndoSpace: IndoSpace (www.indospace.in) is the pioneer and largest provider of modern industrial and logistics real estate in India and has taken total commitment to India to above US$ 3.2 billion. Promoted by Everstone Group (www.everstonecapital.com), GLP (www.glprop.com) and Realterm (www.Realterm.com), IndoSpace continues to develop new facilities to cater to the needs of its clients. Its customers include IKEA, Amazon, Nissan, DHL, DB Schenker, Delhivery, Steelcase, Ericsson, Bosch and Aptiv. The Everstone Group is a premier India and South East Asia focused private equity and real estate firm. GLP is the leading global provider of modern logistics facilities and technology-led solutions. Realterm is a multi-strategy private equity real estate operator in North America. www.indospace.in