Embassy Industrial Parks recently announced the Phase II of their warehousing project at Bilaspur, Gurugram, considering the increasing demand for warehousing projects and storage space from e-commerce players after the outbreak of COVID-19.
“Spread across 40 acres of land, this project will be built with an investment of INR 250-300 crore. The total covered area of the project is estimated to be approximately 1 million sq ft,” Embassy Industrial Parks said in a statement.
Further, it adds, the good infrastructure and connectivity has made this location as an ideal place for the warehousing facility. The site is connected with NH 48 about 3 km away and the Western Peripheral Expressway about 7 km away.
This project is an expansion of the existing 25-acre industrial park of the Embassy Group at Bilaspur. To add to the credibility, this project of Embassy Industrial Parks has garnered IGBC certificate, the most prestigious certification in the real estate sector for the green building projects. This is the first industrial park in India to receive the certification for the warehousing facility.
With the launch of Phase II of the project, warehousing stock of approximately 1 million sq ft will be added to the Bilaspur micro-market. Phase I and II of the park are located strategically, also known as a warehousing hub of North India. Leading players from e-commerce, logistics, retail & FMCG are some of the biggest occupiers in this region.
“With the outstanding success of our project in this location, we are happy to announce the phase II of the industrial park with a bigger facility. There is an increased demand for Grade A industrial parks in the region from manufacturing, FMCG, auto and pharma sectors. At Embassy, we strive to provide the best in class facilities for our clients. The recent IGBC certification is evidence for the service we provide and the standards we maintain at our industrial parks.”~ Aditya Virwani, COO, Embassy Group
As per reports, earlier it was said that the group was in talks with Indospace and ESR to monetise its warehousing and industrial parks business at an enterprise value of INR 1,700-2,000 crore.
In February, Embassy Industrial Parks leased 3.5 lakh sq ft of warehousing space to Rhenus Logistics, a global integrated logistics solutions provider, in its Farukhnagar facility in Haryana.
Embassy Industrial Parks has its presence at all key locations of India such as Chakan – Pune, Sriperumbudur – Chennai, Farrukhnagar and Bilaspur – Delhi NCR and Hosur and Kothur – Hyderabad. They service clients from 3PL, manufacturing, engineering, auto and ancillary, e-commerce, FMCG, retail and telecom.