Mumbai Metropolitan Region achieves record 9.9 Million sq. ft in industrial & logistics leasing in 2023
PNT Bureau
In 2023, the Mumbai Metropolitan Region (MMR) achieved a historic milestone with an all-time high of 9.9 million square feet in Industrial & Logistics (I&L) leasing, fueled by robust activities in the second half. Dominated by third-party logistics (3PL) players at 73%, the MMR leasing dynamics showcased remarkable growth. Nationally, the I&L sector recorded a peak of 38.8 million square feet in leasing activity across eight cities, driven by structured operational models and increased demand for last-mile delivery solutions. The sector's resilience and strategic realignment has set the stage for continued growth....
Anant Raj Ltd's Rs 500 Crore QIP fuels ambitious real estate and data centre plans
PNT Bureau
Anant Raj Ltd raised Rs 500 crore through QIP for debt reduction and working capital. The oversubscribed issue attracted over three times the applications. The company plans to invest Rs 1,000 crore in projects across Gurugram, Delhi, and Tirupati, including luxury and affordable housing. They aim to launch these projects in the next 6-9 months, anticipating Rs 4,500-5,000 crore in revenue over 3-4 years. Additionally, Anant Raj will invest Rs 10,000 crore in developing 300 MW data centre buildings, converting existing IT structures in Haryana....
India's metro cities display robust demand for industrial and warehousing spaces
PNT Bureau
In 2023, the industrial and warehousing sector in India's top five cities demonstrated resilience with a 2% annual growth, reaching 25 million sq ft of gross leasing. Pune led with a 25% share, followed by Mumbai at 22%. Bhiwandi and Chakan-Talegaon were the most active micro markets. Third-party logistics players (3PL) constituted 40% of warehousing demand. Leasing by FMCG players tripled compared to 2022. Pune led in consecutive years of growth, while new supply reached 23.2 million sq ft. The sector is poised for continued momentum, driven by factors like EVs and increased retail consumption....
Ivanhoe Cambridge and LOGOS to invest Rs 21,100 crore in Chakan, Pune
PNT Bureau
Ivanhoe Cambridge and LOGOS, a global real estate firm and logistics specialist, are set to invest a record-breaking Rs 21,100 crore in a logistics park in Chakan, Pune, marking India's largest foreign direct investment (FDI)-driven integrated private industrial and logistics development. LOGOS' fifth project in India, covering over 143 acres, aligns with the Chakan Industrial Estate's 1,000 manufacturing enterprises. The investment reflects confidence in India's industrial landscape, especially in Pune, recognized as a key growth centre. The project, exceeding 3.5 million sq ft, signifies the demand for modern, responsible infrastructure supporting India's manufacturing growth and emphasizes long-term commitment to the sector....
Boeing opens distribution centre in Uttar Pradesh for quick spare parts delivery
PNT Bureau
Boeing, the prominent US aircraft manufacturer, has unveiled its cutting-edge warehousing facility, the India Distribution Centre, in Khurja, Uttar Pradesh. Spanning 36,000 square feet and operated in collaboration with DB Schenker, the centre is a key hub among Boeing's global distribution network, focused on shipping spare parts for its commercial clients. This strategic move aims to enhance support for regional aviation customers, optimizing fleet utilization and providing swift responses to emergent spare parts requirements in India. Positioned strategically along the Eastern Freight Corridor, near Delhi and the upcoming Jewar airport, the facility symbolizes Boeing's commitment to efficient customer service and marks a significant advancement in its global logistics strategy....
Pixxel inaugurates state-of-the-art manufacturing facility in Bengaluru
PNT Bureau
Pixxel, a spacetech startup supported by Google, has inaugurated Megapixxel, its cutting-edge manufacturing facility in Bengaluru. Spanning 30,000 sq ft with a clean room and testing area, the facility will support the integration and testing of Pixxel's hyperspectral imaging satellites, starting with the Fireflies constellation in 2024. The facility, capable of producing up to 25 satellites simultaneously, positions Pixxel for substantial manufacturing needs over the next two years. The company plans to launch the Fireflies constellation in June and October 2024, with a target of manufacturing 75 satellites annually at full capacity. Pixxel's collaborations span industries like mining, oil and gas, agriculture, and technology, cementing its role in the spacetech sector....
IndoSpace's Rs 2000 Crore MoU to generate 15,000 jobs in industrial sector
PNT Bureau
IndoSpace, India's leading industrial real estate developer, signs a Rs 2000 crore Memorandum of Understanding with the Tamil Nadu Government, demonstrating a robust commitment to the state's industrial growth. The agreement, announced at the Tamil Nadu Global Investors Meet 2024, aims to generate 15,000 jobs. With an existing 600-acre land bank and 14 Grade A industrial parks in the region, IndoSpace's investment contributes to the state's economic development. The MoU outlines plans for an additional 5 million sq. ft. of land, reinforcing IndoSpace's pivotal role in Tamil Nadu's industrial landscape....
Revving up Maharashtra's Automotive Hub: Hyundai's mega investment in Talegaon and Mercedes-Benz's Pune expansion
PNT Bureau
Hyundai Motor India (HMI) is injecting Rs 7,000 crore into a new manufacturing plant in Talegaon, Pune, signalling a strategic shift beyond Tamil Nadu. This move, Hyundai's first outside Tamil Nadu, aligns with Maharashtra's emerging status as an automotive hub. Mercedes-Benz is doubling its Pune production capacity, underscoring its commitment to India's luxury car market. Maharashtra's automotive landscape gains momentum with major investments in Talegaon and Pune. Mahindra & Mahindra's recent Rs 10,000 crore investment in a Pune-based electric vehicle (EV) manufacturing plant positions the city at the forefront of India's EV shift. Pune's robust supply chain, government support, skilled workforce, and tech focus ensure substantial growth in its automotive sector, shaping India's future mobility....
Hiranandani Group's Yotta Data Centre launches in GIFT city
PNT Bureau
Yotta Data Services has launched the Yotta G1 Data Centre in GIFT City, Gandhinagar, marking its entry into Gujarat. The state-of-the-art facility, the fifth in Yotta's network, is set within the International Financial Services Center zone, offering over 350 high-density racks and scalable power. G1 uniquely serves as a 'data embassy,' allowing international firms to store data under their home country's laws. This launch follows Yotta's introduction of Shakti and Yntraa Cloud services, strengthening its position as a leading digital transformation and cloud service provider in India....
LogiMAT India 2024: Shaping the future of logistics and supply chain in India
PNT Bureau
LogiMAT India 2024, scheduled for February 28 to March 1, 2024, at India Expo Mart in Delhi NCR, is poised to be a transformative event in India's logistics sector. Aligned with the National Logistics Policy and Gati Shakti initiatives, the exhibition will feature industry leaders showcasing cutting-edge technologies and innovations. With the logistics sector contributing significantly to India's GDP and employment, LogiMAT India 2024 is a catalyst for industry transformation, exploring concepts like AGV, AMR, and autonomous vehicles. Supported by key government initiatives, the event provides networking opportunities and recognizes excellence in logistics through the LogiVerse Innovation and Excellence Awards....
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