Industrial real estate developer Panattoni is developing a 360,000sqft warehouse as its first project in India.
Panattoni said it intends to invest INR110 Crores (€12m) to develop the first phase of Panattoni Park NH71 in Delhi NCR, as part of a planned €100m investment in projects in India in the next year.
Construction is scheduled to commence by March 2024 with completion expected by the end of the fourth quarter of 2025.
Sandeep Chanda, managing director for India at 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 one 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.”
Panattoni said it viewed India as “a critical node for its global business and plans to rapidly expand in the country in the coming years”.
Panattoni operates in Austria, Belgium, Czech Republic, Denmark, France, Germany, Hungary, Italy, the Netherlands, Poland, Portugal, Slovakia, Spain, Sweden, UK, US and Canada. The company started its India operations in 2022, marking its entry into Asia.
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