Puravankara and Morgan Stanley inks Joint Venture for Industrial Parks in South India

Puravankara and Morgan Stanley inks Joint Venture for Industrial Parks in South India

Puravankara and Morgan Stanley Partner for Industrial Parks in South India. Real estate developer Puravankara Ltd. has joined forces with an investment fund managed by Morgan Stanley to develop industrial parks in South India. Puravankara and Morgan Stanley Inks joint Venture for Industrial Parks in South India

Joint Venture Details:

• Focus: Building warehousing spaces in the form of industrial parks
• Investment Model: Long-term venture with equity investment
• Project Stages:
  • Initial stage – identifying land parcels
  • South India is the primary target with potential for expansion near Mumbai
  • First project launch expected in 2019-20

Market Context:

• Industrial real estate is a growing asset class due to:
  • Government initiatives like “Make in India”
  • Implementation of GST
  • Rising demand for quality warehousing space

Additional Information:

• This venture follows Morgan Stanley’s recent acquisition of a majority stake in KSH Infra, a Pune-based logistics park developer.
• Puravankara is exploring new asset classes like warehousing and co-living alongside their existing residential and commercial projects.
• The Indian logistics industry is experiencing significant growth, driven by factors like GST and e-commerce.

Industry Outlook:

• Experts predict continued growth in the organized warehousing sector due to:
  • Increased demand for larger warehousing spaces
  • Consolidation within the supply chain

This joint venture between Puravankara and Morgan Stanley signifies a strategic move to capitalize on the growing demand for industrial real estate in India. The focus on South India with potential expansion reflects the overall positive outlook for the warehousing sector in the country.

 

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