(MENAFN- KNN India)
New Delhi, Sep
3 (KNN) Horizon Industrial Parks, a leading logistics platform owned and managed by Blackstone Real estate funds, has announced a significant investment of Rs 700 crore to redevelop warehouses operated by the Central Warehousing Corporation (CWC) across 13 strategic locations in India.
The redevelopment initiative aims to transform these state-owned assets into modern, Grade-A facilities that cater to the growing demands of sectors like e-commerce, retail, third-party logistics, and cold chain.
In a statement on Monday, Horizon Industrial Parks confirmed its selection as the lead partner by CWC, a public warehouse operator established under the Ministry of Consumer Affairs, Food & Public Distribution.
Over the course of the next 45 years, Horizon will spearhead the redevelopment of CWC's assets, which boast a development potential of 2.4 million square feet. This partnership marks one of the largest last-mile logistics portfolios in India.
The redevelopment project will span key urban centers, including the National Capital Region (NCR), Chennai, Mumbai, Pune, and Bangalore. These locations have been strategically chosen for their proximity to residential areas and city centers, which are vital for efficient last-mile delivery solutions.
Real estate consultancy firm Knight Frank India played a crucial role in facilitating this landmark deal. The consultant highlighted that the investment would cover the development of approximately 70 acres of Grade A warehousing properties across 13 locations, with a total investment of Rs 700 crore.
The firm's expertise in handling large-scale real estate transactions was instrumental in bringing together Horizon Industrial Parks and CWC under this Public-Private Partnership (PPP) model.
Asheesh Mohta, Head of Real Estate Acquisitions India at Blackstone, expressed optimism about the partnership, stating, "Logistics is one of Blackstone's highest conviction investment themes around the world, including in the growing market of India, where we bring scale, operational expertise, and a track record of success. We will bring the best of Blackstone and Horizon and work closely with the CWC to create best-in-class warehouses that provide efficient delivery solutions."
In addition to Horizon's plans, Knight Frank India revealed that CWC is actively pursuing the monetisation of approximately 83 acres of prime Grade A warehousing properties as part of its broader modernisation strategy.
Three locations have already been allocated to RSA Warehousing, TransAsia Shipping, and LL Logistics, with a combined development potential of 500,000 square feet and an estimated cost of Rs 82 crore.
This collaboration underscores the increasing demand for high-quality logistics infrastructure in India, driven by rapid urbanization and the burgeoning e-commerce sector.
By modernising these key assets, Horizon Industrial Parks and CWC aim to enhance the efficiency of last-mile delivery networks, thereby supporting India's evolving logistics landscape.
(KNN Bureau)
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