Bengaluru: US-based Prologis Inc. is the world’s largest warehouse owner, and plans to invest about $500 million in India by 2026 to build a large number of warehouse parks in the country.
Chief Investment Officer Joseph Ghazal said in an interview that the company could double its investment in India within 5-7 years after initially spending $500 million. Prologis regards Amazon Inc. as its largest customer, planning to build and rent storage parks in India and develop construction kits for its customers.
“We have great growth ambitions for the warehouse market in India,” Gazar said. “India’s economic growth, regulatory environment, consumption levels and our customer base are also drivers for us.”
Prologis’ plan is to first establish its presence in five major Indian cities (Mumbai, Pune, Bangalore and Chennai).
Over the past year, Prologis has acquired three land parcels in India to build warehouse assets – Sriperumbubudur near Chennai is 200 acres and 40 acres of Hosur, with 30 acres in Hoskote, a joint venture with developers Rmz Corp. Hosur and Hoskote, outside of Bengalurus.
“Prologis is an integrated platform that provides design, leasing, property management, customer solutions,” Ghazal said.
Prologis’s Indian Pipeline
Prologis in the San Francisco stage withdrew plans to do business in the country in 2007-08 and entered India in 2023 due to the global financial crisis.
Prolos’ global real estate portfolio spans 1.3 billion square feet. As of December 31, assets under management were US$198 billion.
To expand and expand India, Prolos plans to acquire land from the ground and build projects and acquire assets.
India’s chief Prologis head Vineet Sekhsaria said construction is underway in Sriperumbudur and Hoskote sites and will begin in Hosur soon.
Sekhsaria added: “We will develop more projects in our own partnerships.
A few years ago, Prolos ventured into the data center.
While the company’s focus in India is on its core warehousing and logistics operations, it may bring its ancillary operations to the future, Gazar said.
In India, Prolipai will compete with market leaders Indospace, the Horizon Industrial Park owned by Blackstone, Ascendas Firstspace and ESR India.
The total warehousing stock in India is about 438 million square feet. Of its first eight cities, about 238 million square feet are Class A space. About 100 million square feet in this 238 million square feet are owned by institutional operators and investors, while only 28 million square feet. 2019.
“Many institutional operators and investors are looking at India or already operating here,” said Chandranath Dey, an Indian property consulting firm JLL, a logistics and industry company in India, logistics and industry. “The entry of global leaders such as Prologis is a big deal for India’s warehousing sector and will add a lot of value and credibility.”
