US-based Panattoni, a pioneer in the world of industrial and logistics real estate development, would invest Rs 110 crore by March 2025 to build a warehouse park in Delhi-NCR.

To meet the rising demand for warehouse space in major cities, Panattoni announced its entry into the Indian market in July of last year. The business claimed it would invest USD 200 million to build four industrial and logistics parks.

The business announced the Phase 1 launch of 'Panattoni Park NH71' in Delhi-NCR on December 5, marking its first project in India.

"We have acquired 17-acre land to develop our first project in Delhi-NCR. The construction work will start in the first quarter of the next calendar year. It will take a year to complete the project," Panattoni India Managing Director Sandeep Chanda.

The total cost to develop 3.6 lakh square feet of area would be around Rs 110 crore, he said, adding that the company has tied up with some institutional investors to meet the cost.

"Panattoni views India as a critical node for its global business and plans to rapidly expand in the country in the coming years," Chanda said.