BENGALURU :
World asset supervisor Blackstone Group-owned Horizon Industrial Parks plans to take a position ₹4,500 crore to develop throughout cities, mentioned a prime firm govt.
Of the quantity, ₹1,300 crore can be spent within the Nationwide Capital Area (NCR), which constitutes round 25% of the portfolio, about ₹2,000 crore in south India (40% portfolio share) and the remaining ₹1.200 crore in western India.
Earlier this yr, Blackstone arrange a logistics vertical ‘Horizon Industrial Parks’ in India to accommodate its present property, which might be scaled up by acquisitions and greenfield developments. The enterprise worth of the 16 property underneath the platform is about $900 million, and Blackstone has invested $500 million up to now.
“We’re prime quality working property, brownfield property and greenfield developments, that we might function underneath Horizon. We’re additionally seeking to associate with numerous stakeholders together with regional builders and landlords,” Horizon Industrial Parks’ chief govt Rahul Pandit mentioned in an interview.
The portfolio at the moment contains 16 Grade-A logistics and warehousing property, spanning a 24 million sq. ft space of whole growth potential in Bengaluru, Delhi-NCR, Hyderabad and Pune.
Horizon is creating almost 9 million sq ft of warehousing area in south India.
“NCR, too, continues to be a big space of focus for us. It contains almost 25% of our portfolio, representing an enormous geography and a key consumption market. We want to enter jap India, in key cities akin to Kolkata and Guwahati. City logistics can be going to be a large alternative for us,” Pandit mentioned.
Within the subsequent two years, Blackstone is planning to double its portfolio on the again of accelerating demand for organized warehousing area each in and round massive cities, as effectively selectively in smaller cities akin to Nagpur.
The corporate additionally mentioned it’s rising its funding in clear vitality to energy its parks and supply it to the tenants.
Horizon Industrial Parks can be the third asset-specific platform for Blackstone within the nation, after Nucleus Workplace Parks (for industrial workplace property) and Nexus Malls (for procuring malls).