Gurgaon, Mar.9 (ANI-BusinessWire): Embassy Industrial Parks a joint venture between Embassy Group, one of the leading property developer and Warburg Pincus signed an MoU with the Government of Haryana at the Haryana Global Investors Summit 2016, for the development of three industrial parks around Gurgaon with a projected investment of Rs 1,910 crores and an employment potential of 4,000 people.
The projects are intended to support the booming E-commerce as well as the retail and FMCG companies to consolidate in a post GST scenario.
Anshul Singhal, Chief Executive Officer, Embassy Industrial Parks, said: “We are happy to see the proactive and professional approach of the Haryana government to help private companies like Embassy Industrial Parks, grow operations in the state of Haryana. Embassy Industrial Parks is confident of achieving its goals in the state with the support of the government. With this support, we promise to host world class infrastructure that will help both multinational and domestic companies’ set-up factory operations in the state.”
The proposed warehousing project will span the development of integrated Industrial and Logistics Parks with support facilities and also target industrial light manufacturing clients to set up build to suit manufacturing facility/ready built factories in these parks.
The project will be developed on the outskirts of Gurgaon, on NH-8 or within 10 to 15 kilometers from NH-8. The Government of Haryana will help Embassy Industrial Parks acquire this land and get approvals for the projects, apart from providing incentives to ensure their sustainability.
Though the warehousing sector has been largely unorganized and fragmented, the demand for modern warehouse infrastructure has seen a surge in recent times. The rapid growth of retail, manufacturing and related industry segments coupled with an influx of investment will only push this sector to new heights.
Embassy Group is one of the leading property developers in India with a track record of over three decades in real estate development. Embassy has an extensive land bank across the country and has developed over 37 million sq. ft. of prime commercial, residential and retail space in India as well as Malaysia and Serbia. Embassy’s portfolio of real estate developments spans the commercial, residential, industrial, retail and hospitality segments of the real estate industry. While the commercial real estate business includes the development of business parks for the IT/ITeS sector, SEZs, and corporate office space. Embassy’s ongoing residential projects include luxury apartments, villas and integrated townships. Embassy’s residential projects are also designed to obtain IGBC Green Homes gold ratings as part of the efforts towards creating sustainable developments.
Embassy Industrial Parks is a joint venture between the Embassy Group and Warburg Pincus, formed to address the challenges of companies grappling with building and managing industrial and warehousing spaces. We are committed to bringing quality Grade A industrial, light manufacturing and warehousing spaces in close proximity to leading consumer and industrial centers across India. These modern well planned, technology-enabled industrial and warehousing spaces are targeted at industry verticals like E-Commerce, 3PL, Automobile Ancillaries, FMCG and Retail. (ANI-BusinessWire)