The Embassy Industrial Parks [EPI] stepped into South India’s real estate market by acquiring a 60-acre land plot in Bengaluru. This land acquisition was done from DRA Projects, the real estate developer.
The company will use this land parcel to develop 1.3 million sq. ft. of warehousing facility on the outskirts of the Bengaluru city. A total of Rs. 288 crores will be incurred for the construction of the same.
Warburg Pincus, a private equity firm has floated the Embassy Industrial Park of worth $250-million logistic platform to develop industrial parks.
Anshul Singhal, CEO, of the company was quoted saying that the company has already marked our presence in the North and we clearly aim to escalate our business rapidly and thus are choosing appropriate locations to make the expansion process fast and smooth.
For this land development, the Embassy Industrial Park has already finalized a deal of 500,000 sq. ft. with Stellar Value Chains as their client.
This upcoming industrial park is a located alongside the Bengaluru-Chennai highway and is in close proximity to the State Industries Promotion Corporation of Tamil Nadu Ltd [SIPCOT].
At present, the company has three operational logistics & industrial parks in the Delhi NCR & Pune. The company is also in talks to acquire land in different cities like Hyderabad and Mumbai apart from the expansion process in the existing locations.
Anshul Singhal also said that till now, the firm has secured developmental estimated of 13 million square feet out of which 7 million is functional.
The Embassy Industrial Firm is also in talks to acquire more than 300 acres of land in Mumbai and Hyderabad.