New Delhi [India], Apr 21 (ANI): Warehousing giant Embassy Industrial Parks on Thursday announced the construction of a grade 'A' quality industrial and warehousing facility in its newly acquired property in Gurugram, Haryana.
The 24 acres of land purchased by Embassy Industrial Parks is strategically located on NH-8 near Bilaspur Chowk. It is a major development after a 1,910 crore worth Memorandum of Understanding (MoU) was signed with the Government of Haryana last year to grow operations in the state.
The property has six lakh sq. ft. of leasable space containing a logistics park concept with a host of amenities. The land parcel approximately costs Rs. 38 crores. The area is developing at a fast pace and turning into a global manufacturing hub with the presence of various international giants. Companies from 3PL, e-commerce and FMCG sector account for almost 70 percent of the total demand in the Delhi-NCR.
The manufacturing facilities of Maruti, Honda, Hero motors and Subros amongst others and warehousing facilities of Decathlon, Amazon, TCI, Gati, Flipkart and Blue Dart are in close proximity to the acquired plot. It is close to Delhi city (38 km) and the International airport (45 km), as well as the Delhi - Mumbai Highway NH8.
This warehouse is being constructed by Embassy Industrial Parks to meet the ever growing demand of logistics of industry verticals such as Ecommerce, FMCG, retail, consumer durables, apparel and fashion, automotive, pharmaceutical and healthcare, high tech and telecom.
"The warehousing sector has seen a steep growth in activity from 2013 till 2016- more than 55 percent growth in India; more than 45 percent growth in NCR. We have entered a significant phase in the evolution of the Embassy Industrial Parks brand in the NCR Region. It has a strong reputation and is a key focus area for the company to grow our operations," said Anshul Singhal, CEO, Embassy Industrial Parks.
Post the Goods and Services Tax (GST) Bill proposal, warehousing activity in the region will move towards a more systematic mode of operation leading to an inflow of more institutional funding and formal sources of capital.
A recent survey conducted by the Commercial Real Estate Services (CBRE) among leading warehousing occupiers in the country revealed that consolidation and expansion will be the key theme driving warehousing demand in the region. This will result in increased demand for larger, better quality warehouses leading to emergence of new warehousing hubs as well as expansion of the existing hubs.
The survey also revealed that 30 percent of respondents said that they will further expand their footprint in the warehousing market of Delhi-NCR in the post-GST scenario.
Given the significance of the sector in the overall growth of the economy, it has received a great push from the government, both in terms of policy initiatives as well as rationalisation of tax reforms.
During 2016, the sector witnessed a great deal of investments and this trend is only likely to gain momentum going forward. An anticipated increase in demand from manufacturing companies will spur supply of quality warehousing, which is likely to lead to emergence of new warehousing hubs as well as expansion of the existing hubs. The potential for the growth of this market is the near future is significant.
Recently, Embassy Industrial Parks invested Rs. 350 crore to build a 1.1-million sq ft industrial park at Chakan, Pune. The group is planning to invest about Rs. 1,600 crore as equity to build seven-eight industrial parks over the next six years. (ANI)