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IndoSpace, a leading player in the country's industrial real estate space, said that it will add six million sq ft of space by FY 18.
The aim is to reach 50 million sq ft of light manufacturing space and warehousing space in five to seven years and the company is positive of achieving its goal as GST roll-out is set to boost the economy, according to Rajesh Jaggi, Managing Partner, Everstone Real Estate.
IndoSpace, a part of private equity group Everstone, will add this space across six parks in Narasapura-Bengaluru, Khopoli-Mumbai, and Badli and Bhaproda in the National Capital Region by next year.
It has recently added 2.5 million square feet to the country’s light manufacturing sector via development and expansion of its industrial park at Ranjangaon-MIDC, Pune, in Maharashtra, the company said.
The recent expansion and development of the Ranjangaon park, as well as its further expansion plans, will help IndoSpace move towards its goal of a warehousing and light industrial parks’ development pipeline of 50 million square feet in the next five to seven years.
The company currently has close to 30 million square feet of operational and underdevelopment industrial and logistics parks.
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