IndoSpace, the largest developer of industrial real estate in the country, is investing a fresh $1 billion in the next five years. This is in addition to the $750 million that it has already invested over the past seven years. IndoSpace will be more than doubling its industrial real estate development pipeline from 20 million sq feet to 50 million sq feet in the same five-year period.
Currently, IndoSpace is a joint venture (JV) between private equity (PE) and real estate firms Everstone Group and Realterm, which operates industrial and logistics parks in Pune, the National Capital Region (NCR), Bengaluru and Chennai. The company has plans to fund and expand its 17 industrial real estate projects across the country to support manufacturing, consumer and third-party logistics companies operating in India. IndoSpace provides industrial and logistics real estate in India and currently has 17 projects under development. The Everstone Group has over $3.3 billion under management. Realterm is an industrial real estate firm that manages approximately $2.5 billion across over 300 operating and development properties in North America, Europe and India.
IndoSpace believes that the Make In India initiative will result in strong demand from India Inc and MNCs for made-to-order/ready-to-use industrial facilities and storage areas, as they increasingly manufacture in India, for the domestic and overseas markets.