IndoSpace has entered into a pact with the government of Maharashtra at the World Economic Forum in Davos to invest additional over Rs 700 crore in the state.

The company plans to expand its footprint by acquiring around 100 acres in the Chakan-Talegaon region.

This move is expected to create new job opportunities and boost the region's economic growth, IndoSpace said in a release.

"IndoSpace's strategic approach to enhancing Maharashtra's industrial and logistics infrastructure has strengthened further with the signing of this MoU with the Maharashtra government. This collaboration will propel IndoSpace's expansion in the Chakan-Talegaon region, creating sustainable and efficient industrial spaces that will drive India's economic growth," said Rajesh Jaggi, Vice Chairman - Real Estate, Everstone Group.

IndoSpace currently manages over 500 acres across nine international- standard industrial and logistics parks in the Chakan area.

With nearly 10.5 million sq ft of built-up space, These parks are strategically located for e- commerce and 3PL companies looking to speed up distribution in the Pune region. This portfolio has been built with an investment of over Rs 3,500 crore.