Xander Group Inc., a Singapore-based alternative investment company, has acquired a 31-acre logistics park in Bagnan, located in West Bengal’s Howrah district, in its first warehousing investment in eastern India as regional demand grows, two people familiar with the development said. The investment is part of Xander’s $250 million industrial platform, which is advised by its private equity real estate arm Xander Investment Management. Earlier this year, Xander leased around 1.1 million sq ft of warehousing space to e-commerce firms Amazon India and Walmart-owned Flipkart in Bhiwandi, Maharashtra. Warehousing stock in the top eight Indian cities, including Delhi-NCR, Mumbai, Bengaluru, Chennai, Pune, Kolkata, Hyderabad and Ahmedabad, rose by 27 million sq. Warehousing supply is expected to grow by 35 million sq.

Source: Mint May 11, 2021 19:41 UTC