Embassy Group seals 124acres near Bengaluru for industrial development

Embassy Industrial Parks Hosur, a subsidiary of Blackstone-acquired Embassy Industrial Parks, has secured 124 acres of land on Bengaluru's outskirts in Nelamangala taluk. The land, acquired from Karnataka Industrial Areas Development Board (KIADB), will be developed into an industrial park with leasing options. Following Blackstone's acquisition of Embassy Industrial Parks, the company is expanding its presence in the warehousing and logistics sector, aiming to launch real estate investment trusts (REITs) and collaborating with the Hiranandani Group for new warehousing assets. With a global warehousing portfolio of 1.2 billion sq. ft., Blackstone holds a 90 percent stake in Allcargo Logistics and has 40 million sq. ft. of warehousing space in India.