Puravankara 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