Bangalore Avigna Industrial & Logistics Park said it has commissioned a 4 million sq ft warehousing facility in Hoskote, Karnataka, and will invest ₹500 crore- ₹600 crores.
Avigna plans to hand over the first million square feet at Hoskote Industrial Park in 2022-23.
The company recently leased its first 1 million sq ft industrial warehouse at Hosur Park in Tamil Nadu to brands like Whirlpool, Wakefit and Stellar Value Chain.
“We are happy to announce that the construction of industrial warehouse has started after laying the foundation stone at Hoskote, Karnataka. Such a development will reduce the demand for modern, state-of-the-art warehousing and logistics facilities in India, for which we are already in discussions with several customers,” said Abhijit Verma, Executive Director and Chief Executive Officer, Avigna. Group.
This project is a part of Avigna ₹2,000 crore expansion plan for 10 million sq ft warehouse space over the next three years.
Apart from warehouses in Hosur, Chennai and Nellore (Andhra Pradesh), Avigna is also looking to expand its presence in other places including Bhiwandi and Jaipur in the west, Farrukhnagar in the north and Patna, Guwahati and Kolkata in the east.
On Thursday, Indospace, the industrial and logistics real estate development platform of the Everstone Group, said it has launched a new industrial park at Narasapura near Bengaluru.
The park is located on a 64-acre parcel near National Highway 75, Narasapura Industrial Area, and is well connected to consumption centers in Central, East and Northeast Bengaluru. It is also strategically located to offer connectivity to Chennai, Tirupati and Hoskote-Malur industrial area.
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