Allianz Real Estate is expanding its €700m Asia-Pacific logistics portfolio with two new investments in India and China. With a 50% capital commitment of $225 million, it has teamed up with e-Shang Redwood (ESR) Group to establish a logistics investment platform in India. ESR will invest 350 Cr in the project to build an industrial and logistics park in Chakan MIDC, Pune; for which the work was started on 22nd November, 2018. The park will cover an area of 1.2 million sq. ft. and offer both build-to-suit solutions and standardized facilities. ESR is planning to open two more industrial parks and globally counts Amazon, Alibaba and J.D.com amongst its clients. “India’s logistics sector is coming of age. The sector is benefiting from a lot of favorable trends, such as stellar consumption patterns, continued infrastructure spending, increasing transparency and the nationwide implementation of a uniform indirect tax system,” said Rushabh Desai, Asia-Pacific CEO of Allianz Real Estate. Tier one and ‘selective tier two’ cities like Mumbai, Pune, Chennai, Bangalore, Hyderabad, Ahmedabad, Kolkata and Delhi are being targeted to build Grade A Warehouses under the Joint Venture.
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