By Accommodation Times Bureau
The Embassy Industrial Parks laid the foundation for the largest warehousing facility till date on October 24. The increasingly crucial role of the logistics sector has been highly discussed along with India’s rapid development story. With its pioneering approach, Embassy Industrial Parks asset the target to construct industrial parks in the 8 main cities of the country. Within the next 2 years, they target having a 30 million square foot portfolio of next-generation warehousing and logistics solutions.
A crucial expansion strategy has been to align with various state governments. In this vein, Embassy Industrial Parks has signed a MoU of Rs 1,910 crores with the government of Haryana. The states’ strategic importance at the epicentre of North Indian logistics is driven by its central location in NCR, land availability, cheaper land costs, key consumption market and connectivity with the Golden Quadrilateral.
The plethora of developments at Embassy Industrial Parks continues, as they now announce another major acquisition in this region – this time 110 acres of prime real-estate in Farrukhnagar. The area houses leading companies from various sectors such as E-commerce, automotive, logistics, retail & FMCG. Proximity to the Indira Gandhi International Airport, Dwarka Expressway and the upcoming KMP Expressway further support its selection as the first-choice locale for warehousing and logistics.
This new 3 million square foot industrial park will serve as the second new-age warehousing location within the fast-growing nucleus of Haryana. True to form, the company has already leased out 1 million square feet, before even officially launching the project. This has resulted in Embassy leasing out 1.6 million square feet in a record span of 24 months since signing the Haryana Government MoU. This is a significant component of the 3.6 million square feet available at these two next-generation industrial parks.
Embassy Industrial Parks CEO, Anshul Singhal comments “We are firmly committed to realising our ambitious plans and contributing to the development of the region. We are humbled with the rapid progress of our company and the overwhelming response to our strategy.”