Shapoorji Pallonji Real Estate has plans to set up a $600 million Indian warehouse investment platform in partnership with sovereign wealth fund Abu Dhabi Investment Authority, reported LiveMint.
The initial capital will be invested across four to five years. The platform will construct, acquire or invest in warehousing assets in Mumbai, Pune, Gurugram, Kolkata, Hyderabad and Chennai.
Another foreign investor to recently enter the Indian logistics market was Blackstone. It entered into a 50-50 joint venture with realty developer Hiranandani Group to build, own and operate industrial, logistics and warehousing assets across India, totaling 12 million square feet.
