IndoSpace, a leading player in industrial real estate backed by the Everstone Group, is set to invest over ₹580 crore to develop two new logistics parks in Karnataka. This investment will cover 76 acres and is part of a broader Rs.3,000 crore commitment outlined in a 2022 agreement with the state government.

These new parks will focus on industries such as automobiles and electronics, providing a combined development potential of 1.8 million square feet. This initiative is expected to bolster Karnataka's logistics infrastructure, catering to the growing needs of businesses in these sectors.

Currently, IndoSpace operates three parks in Karnataka and manages a total of 52 parks across India. The firm’s expansion in the state underscores the robust demand for logistics facilities.

The Memorandum of Understanding (MoU), signed with the Karnataka government, marks the largest investment ever made by an industrial developer in the state. It is projected to generate approximately 14,000 new jobs over the next seven years.

Chief Minister Basavaraj Bommai highlighted the significance of this investment during the Invest Karnataka 2022 conference. IndoSpace aims to enhance Karnataka's industrial infrastructure, which includes vital sectors like automotive, electronics, aerospace, agriculture, textiles, and engineering.

Rajesh Jaggi, Vice Chairman – Real Estate at Everstone Group, emphasized that the investment will enrich the state's industrial landscape and provide top-tier warehousing and logistics facilities. IndoSpace’s existing presence in Karnataka includes Grade-A industrial parks in Bommasandra and Nelamangala, with new developments in Nelamangala II and Naraspura.

IndoSpace's strategic locations are designed to optimize inter-city logistics and in-city warehousing. This latest project is set to further boost Karnataka’s logistics sector and attract additional investments to the state.

With a portfolio of 46 logistics parks covering 51 million square feet across 10 cities, IndoSpace has set industry standards in quality, service, sustainability, and governance. The company’s parks have supported over USD 2 billion in assets under management (AUM) and continue to be a key player in India’s evolving industrial and logistics landscape.

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