IndoSpace plans to expand, invests $3bn

Buoyed by rising demand being experienced by the e-commerce and manufacturing sectors, Everstone Group-backed industrial real estate and logistics parks developer IndoSpace has invested close to $3 billion, through a mix of equity and debt, in assets under management across its investment vehicles in India. Over the next three years, the company will be constructing an additional 22 million sq ft across the country and will deploy approximately $1 billion on new acquisitions, said Rajesh Jaggi, vice chairman, Real Estate, Everstone Group.