Puravankara-Morgan Stanley fund to build industrial parks

According to a recent report published in a leading national daily, real estate firm Puravankara and Morgan Stanley have signed an agreement to utilize a specific investment fund to create a warehousing platform. It will be eventually utilized to set up industrial parks in South India where Purvankara is strongly positioned.

 

The report underlines that the warehousing platform would mainly seek to undertake greenfield projects. “ It is at the initial stage where the process of identifying land parcels has started. Puravankara being Bengaluru-based, the south is its core strength geographically, but they are also in talks for two land parcels on the outskirts of Mumbai. The first project should be launched in 2019-20,” a source close to the development has been quoted as saying in the report.

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