Spread across 64 acres of land parcel, the park located in Narasapura will cater to the warehousing requirements of companies across sectors such as automotive, engineering, electric vehicles, e-commerce, and FMCG, amongst others

Bengaluru, 16 Sep 2021 The establishment of a new industrial park in Narasapura, close to Bengaluru, was announced today by IndoSpace, the country’s leading investor, developer, and manager of Grade A industrial real estate and logistics parks. With its contemporary facilities meeting the expanding need for industrial storage and logistics across industries, the park will expand IndoSpace’s presence in the manufacturing and industrial hub of Karnataka.

One of the well-known areas in Karnataka is the narasapura industrial area, which is close to National Highway 75 (NH75). A significant portion of the city’s population is concentrated in the central, eastern, and northeastern consumption centers, which are well linked to the area. Additionally, the IndoSpace park in Narasapura is well situated to provide top-notch connectivity to Chennai, Tirupati, and the Hoskote-Malur industrial region.

The Bengaluru warehousing market has seen 4.30 mn. sq. ft. leasing in FY-2020. By consolidating the warehousing market, developers are venturing into the city’s prominent clusters with land acquisitions forgreenfield developments and making it a preferred destination for Japanese, European and Korean companies in the electronics, FMCG, and FMCD sector.

IndoSpace industrial and logistics park will offer Grade A infrastructure, making it the only world-class warehousing and Industrial facility of this scale in the city. Further, this park will offer superior infrastructure, amenities, and versatile solutions, making Narasapura an ideal choice for various sectors, including manufacturing, auto, auto component, and 3PL industries.

Rajesh Jaggi, Vice-Chairman – Real Estate, Everstone Group, said, “By offering a solid foundation with our Grade A logistics infrastructure to customers across sectors, we aim to tap into the manufacturing boom being witnessed in the state of Karnataka. In addition, the launch of our new industrial park in Narasapura will further help in attracting global manufacturers to the state of Karnataka.”

In India, IndoSpace is a pioneer of green warehousing. Due to its dedication to sustainability, IndoSpace is still actively involved in the promotion of green construction and ethical business practices. Adding 118 acres to its portfolio, IndoSpace also opened two parks in Tamil Nadu’s Vallam and Oragadam regions in June of this year.

IndoSpace has a portfolio of over 43 million sq. ft across 41 industrial and logistics parks pan India. In 2020, it spent around $500 million across nine acquisitions. IndoSpace plans to add four million sq. ft of warehousing space by the end of 2021.