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Business EconomyPosted at: Apr 27 2024 1:50PM


Horizon Industrial Parks announces ground-breaking of its 2nd logistics park in Pune

Pune, April 27 (UNI) Horizon Industrial Parks, a portfolio of Grade A logistics parks in India owned by Blackstone Real Estate funds, has announced the groundbreaking of its second logistics park in Pune, Chakan.
The 100-acre park is located in Chakan, one of the key industrial hubs of the country with well-developed social and economic infrastructure. Chakan’s proximity to Mumbai and Pune via the Mumbai-Pune Expressway and JNPT Seaport makes it an ideal base for industrial and logistics operations.
Horizon Industrial Parks recently completed the development of the 52-acre Chakan 2nd Park. The park is home to several high-profile companies from diverse sectors, including auto components, engineering, and third-party logistics service providers, according to a release today.
Urvish Rambhia, Principal at Blackstone, said: “We are thrilled to break ground on Chakan V, which will be built as a state-of-the-art facility, as part of our commitment to providing high-quality logistics assets in strategic locations. We continue to see strong demand for modern warehouses in India, driven by increasing e-commerce adoption and strong industrial growth.”
Blackstone is the largest owner of warehousing and logistics space globally, having invested over $55 billion in the logistics segment and owning more than 575 million sq ft of warehousing space globally.
In India, Blackstone is one of the largest foreign investors, with an AUM of $50 billion.
Blackstone is the largest commercial real estate landlord in India and one of the largest in the retail, warehousing, and hospitality segments.
In warehousing, Blackstone has invested more than $1 billion in the Horizon Industrial Parks portfolio, which comprises 40 million sq ft of warehousing and logistics space, said the release.
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