Horizon Industrial Parks Announces Groundbreaking of Second Logistics Park in Pune
Pune: Horizon Industrial Parks, a portfolio of Grade A logistics parks in India owned by Blackstone Real Estate funds, has announced the groundbreaking of its second logistics park in Pune, Chakan 5. The 100-acre park is located in Chakan, one of the key industrial hubs of the country with well-developed social and economic infrastructure. Chakan’s proximity to Mumbai and Pune via the Mumbai-Pune Expressway and JNPT Seaport makes it an ideal base for industrial and logistics operations.
Horizon Industrial Parks recently completed the development of the 52-acre Chakan 2nd park. The park is home to several high-profile companies from diverse sectors including auto components, engineering, and third-party logistics service providers.
Urvish Rambhia, Principal at Blackstone, said: “We are thrilled to break ground on Chakan V, which will be built as the state-of-the-art facility, as part of our commitment to providing high-quality logistics assets in strategic locations. We continue to see strong demand for modern warehouses in India, driven by increasing e-commerce adoption and strong industrial growth.”
Blackstone is the largest owners of warehousing and logistics space globally and have invested over $55 billion in the logistics segment and owns more than 575 million sq-ft of warehousing space globally.
In India, Blackstone is one of the largest foreign investor with AUM of $50 Bn.
Blackstone is the largest commercial real estate landlord in India and one of the largest in retail, warehousing and hospitality segments.
In Warehousing, Blackstone has invested more the $1bn in putting the Horizon Industrial Parks portfolio which comprises of 40 Million sq ft of warehousing and logistics space.
Blackstone plans to boost its logistics portfolio in India by 2.5 times to 100 million sq-ft from the current 40 million sq-ft through its existing joint ventures (JVs) and partnerships, and by focusing on new alliances in the next three to five years.
About Horizon Industrial Parks:
Horizon Industrial Parks is a logistics platform in India owned by Blackstone Real Estate funds. Horizon Industrial Parks (together with affiliates) manages 24 industrial and logistics parks spread across more than 1,700 acres and with an area of 42 million square feet, which are in 10 key markets in India.