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An estimated 360,000 square feet would make up the built-up area of the Delhi-NCR site. Global industrial real estate developer Panattoni has spent ₹110 crores in the first phase of its first project, which is located in Delhi NCR.
The corporation and its several investment partners want to invest 100 million euros in projects around the nation over the course of the upcoming year. “The corporation has purchased 17 acres of property thus far. It has invested ₹110 crores in the project’s initial phase in collaboration with an institutional investor.
Sandeep Chanda, Panattoni’s Managing Director for India, stated that the company and its several investment partners want to invest 100 million euros in various projects around the nation over the course of the upcoming year.
Panattoni’s Vision For A 360,000 Sq. Ft. Industrial Hub In Delhi-NCR
The land tract was just bought by the corporation, he informed Hindustan Times Digital. “It’s presently in the approval phase. Applications have been made for building permissions.
By March 2024, the project’s construction is expected to start. By the conclusion of the fourth quarter of FY25, the firm hopes to be finished,” he stated. With a possible built-up size of 360,000 square feet, Phase 1 of the project spans 717,000 square feet.
Panattoni Park’s Timeline And Construction Milestones
The company is considering possible clients in the FMCG, e-commerce, white goods, and auto component industries. The project, which will be named as Panattoni Park, will be situated in Delhi-NCR along National Highway 352 (previously known as National Highway 71).
On one side, it would be bordered by the Farrukhnagar area, and on the other, by the warehouse cluster in Luhari. The area is home to large retailers, 3PLs, e-commerce, and industrial tenants.
Part of the Global Panattoni Group, which operates in Austria, Belgium, the Czech Republic, Denmark, France, Germany, Hungary, Italy, the Netherlands, Poland, Portugal, Slovakia, Spain, Sweden, the United Kingdom, the United States, and Canada, is Panattoni India Development Pvt Ltd. It has its headquarters in Bengaluru and started operating in India in 2022.
Source-HT
