December 5, 2023: Real estate developer Panattoni has announced its inaugural project in India with the Phase 1 launch of Panattoni Park NH71, an environmentally conscious Grade A warehouse park in Delhi-NCR. In partnership with an institutional investor, Panattoni has made a noteworthy investment of Rs 110 crore in the first phase of the project. Over the next one year, Panattoni together with its multiple investment partners plans to invest 100 million euros across projects in the country.
This investment emphasises Panattoni’s commitment to contributing significantly to the country’s industrial growth. The construction is scheduled to commence by March 2024; targeting completion by the end of the fourth quarter of FY25.
Situated along National Highway -352 (NH352) (formerly known as National Highway-71) in the Delhi-NCR region, surrounded by warehousing cluster encompassing Luhari on one side and Farrukhnagar, the park benefits from its proximity to a large congregation of major retailers, 3PL, e-commerce and industrial occupiers.
Phase 1 of the project covers an expansive 7,17,000 square foot (sqft), with a potential built-up area of 3,60,000 sqft.
Designed to meet diverse industrial requirements, the establishment emphasises eco-friendly methodologies and innovative infrastructure. The park boasts a strong focus on sustainability, incorporating 100% wastewater recycling. The focus on sustainability aligns with Panattoni Park’s commitment to reducing environmental impact by optimising resource usage, promoting low-emission transportation and actively participating in initiatives as part of the Indian Green Building Council.
Sandeep Chanda, managing director India, Panattoni, said, “Serving as a gateway to India’s dynamic industrial landscape, Panattoni Park NH71 marks our first bold step into India’s thriving market. As global leaders in industrial real estate development, we will prioritise sustainable ESG policies to reduce CO2 emissions and benefit the communities we serve in India. The inaugural project exemplifies our dedication to innovation, strategic development and creating opportunities that drive success for our clients and the communities we serve.”
Panattoni views India as a critical node for its global business and plans to rapidly expand in the country in the coming years.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected] |
With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: [email protected]
Related Posts
Chennai Metro underground stretch to begin by year-end.
Delhi Metro’s ‘Heritage Line’ thrown open to public.
Connaught Place world’s ninth most expensive office location: CBRE.
Institutional investments in Indian realty touch the highest level in a decade: Report.
India’s present REIT potential: 294 million sq ft of office space.
Warehousing and logistics sector absorption up 17% in H1 2023: Report.
