Also Wins the Award for ‘Best Innovative Green Real Estate Developer In India’ – Ranks Amongst the Top Three Overall Developers in India for Second Year in a Row
MUMBAI, India: The prestigious ‘Euromoney’ magazine has named IndoSpace, India’s largest developer of modern industrial and logistics real estate, the ‘Best Developer of Industrial/Warehouse Real Estate in India’ for 2020 in their 16th annual real estate awards survey. This survey recognises leading providers of real estate products and services across the globe. IndoSpace, the only pan-India developer of industrial and logistics real estate in India, has received this honour for the sixth year in a row. IndoSpace also ranks amongst the top three overall developers in India for the second year in a row.
In the same survey, IndoSpace has also been awarded as the ‘Best Innovative Green Developer in India’ for 2020 on the back of IndoSpace’s continuous efforts to integrate sustainability and adopt sustainable technology for the reduction of carbon footprint. This award is a testament to IndoSpace’s ‘green’ design thinking, which has resulted in IndoSpace’s parks being awarded the esteemed EDGE certification. Recently, IndoSpace Core also announced the closing of an INR 1,000 crore green loan facility provided by The Hongkong and Shanghai Banking Corporation Limited (HSBC). Proceeds from the debut green loan will be used towards the financing or refinancing of certified green projects.
IndoSpace Core has set a new benchmark in green financing in India with the facility being raised under its newly established Green Finance Framework which is rated ‘Medium Green’ by international independent reviewer CICERO Shades of Green. IndoSpace Core’s Green Finance Framework is the first ever globally to have incorporated EDGE certified green buildings in the warehousing space being externally reviewed by CICERO Shades of Green.
The Euromoney award is one of the largest and most respected awards in the real estate industry globally as the winner is decided on the basis of the votes by leading firms involved in real estate worldwide as well as advisors, developers, investment managers, banks, corporate end-users and customers of real estate.
Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group, said: “We are elated to be chosen as the best industrial/warehouse developer India consecutively for the sixth time by the voters of ‘Euromoney’ survey. At IndoSpace, we emphasize on reducing the environmental impact of our operations and it feels good to be acknowledged as ‘Best Innovative Green Development Developer in India’ as well. I would like to credit the amazing team at IndoSpace, as well as the strong and collaborative relationships with our investors, customers and partners for these coveted recognitions. We would like to thank Euromoney for providing a platform to recognize the work done by IndoSpace in setting up best-in-class industrial warehousing facilities in India to support the growing logistics and warehousing needs in India.”
Louise Bowman, Editor, Euromoney comments, “The Euromoney real estate awards are voted for by all constituents in the industry – developers, advisers and banks. This makes them of particular importance in recognising strength in each individual sector. We congratulate IndoSpace for their achievement in winning Best Industrial/Warehouse real estate developer in India for the sixth consecutive year; and the Best developer of Innovative Green real estate in India; and for earning the respect of their peers and colleagues in the highly competitive global real estate market.”
IndoSpace has a portfolio of over 36 million square feet across developed and under-construction projects comprising 35 industrial and logistics parks located in and around major industrial corridors /consumption hubs – the Delhi NCR, Mumbai, Pune, Bengaluru, Chennai, Ahmedabad, Coimbatore, Anantapur, Rajpura.