The Grade A industrial real estate and logistics parks developer and manager IndoSpace announced the launch of their new industrial park in Narasapura, near Bengaluru.
Spread across 64 acres of land parcel, the park located in Narasapura will cater to the warehousing requirements of companies across sectors such as automotive, engineering, electric vehicles, e-commerce, and FMCG, amongst others
“Located near National Highway 75 (NH75), Narasapura industrial area is one of the prominent regions in Karnataka. It is well connected to major consumption hubs across central, east, and northeast Bengaluru, which constitute a large percentage of the city’s population. IndoSpace park in Narasapura is also strategically placed to offer excellent connectivity to Chennai, Tirupati, and the Hoskote-Malur industrial area,” reads the release.
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 FMCD sector.
Rajesh Jaggi, vice-chairman – real estate, Everstone Group, said, “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.”
In June’21, IndoSpace also launched two parks in South India, in Vallam and Oragadam areas in Tamil Nadu, adding 118 acres to its portfolio.
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.
Source : ITLN