Dobrzycki will support the sustainable growth of Indian economy
Panattoni, one of the largest industrial real estate developers in the world, is to invest US$200 million in two to three industrial and logistics parks in India by the end of 2023 from its Asia headquarters in Bengaluru.
“We will facilitate investors’ access to these assets and support the sustainable growth of India’s economy and employment as we have done in the US and across Europe,” said Robert Dobrzycki, CEO & Co-owner, Panattoni Europe and India.
“I see no reason why the institutionalization and dramatic growth of the industrial and logistics markets in North America and Europe cannot be repeated in Panattoni’s Indian bridgehead and beyond into other Asian countries and on a faster, greater scale in the years ahead,” he said.
Sandeep Chanda, leading Panattoni India as Managing Director, elaborated, “Panattoni’s entry into the Indian market brings with it the Group’s state-of-the-art design and construction technology.
“Our access to global institutional capital and an extensive international occupier network will supplement the strong core demand for modern sustainable industrial and logistics real estate we are seeing from domestic Indian companies.
“Greater supply chain efficiency, rapid e-commerce growth, and consolidation among third-party logistics providers are all fundamental market drivers that India increasingly shares with its counterparts in the US and Europe,” Chanda said on 26 July 2022 in a release from Bengaluru.
Panattoni’s initial focus of growth is on the top eight Indian cities with plans to introduce its ‘open book’ transparent business model of partnering with global institutional investors to facilitate the deployment of capital in direct investments in the fast-expanding Indian industrial and warehouse market.
The second phase of expansion in tier-2 markets will follow.
The opening of the Bengaluru HQ was preceded by a first Indian office in Mumbai and there are also plans to set up in Delhi to reinforce Panattoni’s presence in the major metropolitan centres.
India’s aim of becoming a global manufacturing hub, supported by international corporations’ growing interest in ‘Plus-One’ strategies to diversify their dependence on China and its supply chains, is expected to be a key driver in accelerating the development of the domestic logistics sector, along with e-commerce adoption, infrastructure development and regulatory reforms, said California-headquartered Panattoni, founded in 1986. fiinews.com
