Indospace Partners With Model Economic Township In Haryana

IndoSpace, One of India’s largest developer and manager of Grade A industrial real estate and logistics parks on 10th March announced the acquisition of 55 acres at Farukhnagar in Haryana. T

BY Realty Plus
Published - Thursday, 25 Mar, 2021

Indospace Partners With Model Economic Township In Haryana

IndoSpace, One of India’s largest developer and manager of Grade A industrial real estate and logistics parks on 10th March announced the acquisition of 55 acres at Farukhnagar in Haryana. This acquisition is a joint venture with Model Economic Township Limited (METL), a 100% subsidiary of Reliance Industries Limited, and has a development potential of 1.28 million square feet. With this, IndoSpace has expanded its footprint in Delhi-NCR to over 480 acres across eight parks. The partnership reiterates the strong association between IndoSpace and Model Economic Township Limited. In 2017, IndoSpace acquired 140 acres from METL in Badli, Haryana. The latest acquisition strengthens the relationship. The Farukhnagar micro-market has grown exponentially over the last few years and has emerged as a major warehousing and industrial destination in the Delhi NCR. Farukhnagar is close to Gurugram, New Delhi and other major manufacturing and consumption centers, and has fully developed social and physical infrastructure. This proposed development will meet the rising demand in Delhi-NCR for world-class Grade A warehousing space from 3PL, FMCG, and e-commerce sectors. Adding to its pan-India presence, the acquisition will help IndoSpace grow its footprint strategically across this region while attaining its long-term goal of 120 million square feet of modern logistics infrastructure across India. IndoSpace has a portfolio of over 41 million square feet across 39 industrial and logistics parks under various stages of development in nine major consumption hubs in India.