IndoSpace to invest $1bn to acquire logistics assets in India

To cater to rising demand, led by improved connectivity and government’s supportive policies, IndoSpace is planning to deploy over $1 billion to acquire new warehousing and logistics assets across India over the next two-three years, said reports. The joint venture between Everstone, Singapore-headquartered logistics facilities provider GLP and industrial real estate firm Realterm, will also be developing additional 30 million sq ft warehousing properties in the country, the reports added.
“With the improved connectivity and recent government initiatives, we believe that modern, large, best-in-class logistics and grade A industrial warehousing facilities will continue to be in demand. The booming e-commerce sector and evolving consumption patterns are driving demand for modern logistics and quality warehousing facilities,” Rajesh Jaggi, Vice Chairman-Real Estate, Everstone Group was quoted as saying in reports.