Panattoni, one of the world's largest industrial real estate developers, announces its inaugural project in India with the launch of the first phase of Panattoni Park NH71 in Delhi NCR.
This environmentally conscious Grade A warehouse park by Panattoni India signifies the company's entry into the Indian market. Panattoni is investing INR 110 Crores (€12 million) in the first phase of the project, which will total 360,000 sq ft, as part of a planned €100 million investment in projects in India in the next year.
This investment reflects Panattoni's commitment to contribute significantly to the country's industrial growth.Construction is scheduled to commence by March 2024 with completion targeted by the end of the fourth quarter of 2025.
Situated on National Highway 352 (formerly known as National Highway 71) in the Delhi-NCR region, in the heart of an established warehousing cluster encompassing Luhari on one side and Farrukhnagar on the other, the park benefits from its proximity to a large congregation of major retailers, logistics companies, e-commerce and industrial occupiers.
Designed to meet diverse industrial requirements, the development focuses on sustainability, utilising eco-friendly methods and innovative infrastructure, including 100% wastewater recycling. The focus on sustainability aligns with Panattoni '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.
Commenting on the announcement, Sandeep Chanda, Managing Director India, Panattoni, said, “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 are excited to introduce phase 1 of our world-class warehousing establishment in the heart of the Delhi-NCR region, reflecting our commitment to providing premier spaces that empower businesses and fuel economic growth.
“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.