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Sign in Sign up for a FREE subscriptionPuravankara partners with Morgan Stanley fund for warehousing platform
Indian real estate firm Puravankara Ltd. and an investment fund managed by Morgan Stanley have signed an agreement to set up a warehousing platform that will build industrial parks in South India.
The first project is expected to be launched in 2019 to 2020.
Recently, Morgan Stanley acquired a majority stake in Pune, India–based warehouse and logistics park developer KSH Infra Ltd for around 350 crore rupees ($5 million). KSH Infra operates two warehousing and industrial logistics parks, totaling around 1 million square feet, in Pune.
Demand for industrial real estate is growing continuously due to consumption and e-commerce sectors gaining impetus with the government’s Make in India initiative. And the Indian logistics industry, worth approximately $160 billion, is growing at a compound annual growth rate of 10.5 percent and is likely to reach $215 billion in the next three years, according to the Economic Survey 2017-2018.
As a part of the Make in I