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Panattoni, recognized as one of the world's leading industrial real estate developers, has unveiled its first project in India. The Phase 1 launch of Panattoni Park NH71 in Delhi NCR signifies the company's foray into the dynamic Indian market. Collaborating with an institutional investor, Panattoni has committed a substantial investment of INR 110 crores in the project's first phase, setting the stage for a series of ambitious projects with a total investment plan of 100 million euros over the next year.
This significant investment underscores Panattoni's dedication to playing a pivotal role in India's industrial growth. The expansive Phase 1 covers 717,000 square feet, with a potential built-up area of 360,000 square feet. Construction is slated to commence by March 2024, with completion targeted by the end of the fourth quarter of FY25.
Strategically positioned along National Highway 352 in the bustling Delhi-NCR region, Panattoni Park NH71 enjoys proximity to a robust warehousing cluster, including Luhari and Farrukhnagar. This prime location places the park in close proximity to major retailers, 3PL, e-commerce, and industrial occupants.
The state-of-the-art facility is designed to meet diverse industrial needs, with a strong emphasis on eco-friendly practices and innovative infrastructure. Panattoni Park NH71 is committed to sustainability, incorporating 100% wastewater recycling. This aligns with Panattoni Park's broader commitment to reducing environmental impact through optimized resource usage, promotion of low-emission transportation, and active participation in initiatives by the Indian Green Building Council (IGBC)
Sandeep Chanda, Managing Director India, Panattoni stated that Panattoni Park NH71 marks Panattoni’s inaugural venture into India’s thriving market, serving as a gateway to the country’s dynamic industrial landscape. Chanda emphasized Panattoni's global leadership in industrial real estate development and the company's prioritization of sustainable Environmental, Social, and Governance (ESG) policies to reduce CO2 emissions, benefiting the Indian communities they serve. The project exemplifies Panattoni's dedication to innovation, strategic development, and creating opportunities for success.
The Phase 1 of their world-class warehousing establishment will showcase their commitment to providing premier spaces that empower businesses and drive economic growth. Recognizing India as a critical node in its global business strategy, Panattoni has outlined plans for rapid expansion in the country in the years ahead.
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