Panattoni Inaugurates Its First Project In India
Panattoni, one of the world’s largest industrial real estate developers, announced its inaugural project in India with the Phase 1 launch of Panattoni Park NH71 in Delhi NCR. This cutting-edge and environmentally conscious Grade A warehouse park by Panattoni India signifies the company’s entrance into the Indian market. In partnership with an institutional investor, Panattoni has made a noteworthy investment of Rs 110 crores 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 emphasizes 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 (formerly National Highway 71) in the bust Delhi-NCR region, surrounded by a robust 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 717,000 square feet, with a potential built-up area of 360,000 square feet.
Designed to meet diverse industrial requirements, the establishment emphasizes 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 optimizing 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’re 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 prioritize 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.
