Casagrand, a prominent real estate developer, has revealed a co-development agreement with the private equity firm Blackstone to construct two industrial and logistics parks in Sriperumbudur, located near Chennai.
The project will cover an area of 4.2 million square feet on a 154-acre site, with Blackstone committing to an investment of approximately Rs 700 crore. The facilities are anticipated to become operational within 30 months.
The parks will cater to manufacturing clients, including those in the electronics and automobile industries, as well as logistics end-users. This collaboration with Blackstone is in line with Casagrand’s strategy to enhance its logistics offerings, with the goal of generating 10-15 percent of group revenue from this sector. “We have been engaged in industrial warehousing for the past 7-8 years.
We recognized the necessity for a long-term partner in our ventures… and who better to collaborate with than Blackstone,” stated Arun MN, Chairman and Managing Director of Casagrand.
