Hiranandani Group and Blackstone Signs JV for Industrial and Warehousing Parks

Hiranandani Group and Blackstone Signs JV for Industrial and Warehousing Parks

Hiranandani Group and Blackstone inks Joint venture for Pan-India Industrial and Warehousing Development. Hiranandani Group, a leading Indian real estate developer, announced a joint venture with Blackstone Investments Group to establish a pan-India platform for industrial, logistics, and warehousing assets. Hiranandani Group and Blackstone Signs JV for Industrial and Warehousing Parks

Key Details:

• Joint Venture Structure: 50:50 partnership between Hiranandani GreenBase (Hiranandani Group subsidiary) and Blackstone.
• Initial Investment: Rs. 2,500 crore over the next 3-4 years.
• Focus Areas: Developing and acquiring industrial and warehousing facilities across India.
• Initial Project Sites: Pune (267 acres), Chennai (115 acres), Nashik (73 acres), and Durgapur (25 acres).
• Long-Term Vision: Capitalize on India’s growing industrial and logistics sector driven by factors like GST, infrastructure development, and the “Make in India” initiative.

Benefits:

• Economic Growth: The JV’s investment is expected to boost economic activity and create jobs in the targeted locations.
• Customer Focus: The partnership will prioritize “customer delight” by providing high-quality, Grade A industrial and warehousing infrastructure.
• Reduced Logistics Costs: The JV aims to offer optimized supply chain solutions that bring down logistics costs for Indian businesses.

Quotes:

• Niranjan Hiranandani, Founder & MD, Hiranandani Group: “We are bullish on the Indian economy’s long-term prospects, and logistics and warehousing will be key beneficiaries. This JV will contribute to growth and job creation.”
• N Shridhar, Group Director & CEO, Infrastructure (Industrial and Logistics), Hiranandani Group: “GreenBase is committed to building world-class infrastructure and has already secured deals with major clients like Coopers and Vestas.”

Significance:

This collaboration between Hiranandani Group and Blackstone signifies a significant development in the Indian industrial and logistics real estate sector. By leveraging their combined expertise and resources, the JV is well-positioned to address the rising demand for modern warehousing facilities and contribute to India’s economic growth.

 

Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, The image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article or want to publish your news or article please email news@jvdeals.in