Blackstone Inc. is building a built-to-suit warehouse for Amazon India in Delhi, the first in-city fulfilment centre for the e-commerce giant in the national capital.
The warehouse is spread over an area of 500,000 sq ft, and Amazon has signed a 20-year lease with Horizon Industrial Parks, the entity under which the US-based asset manager has housed its logistics assets in India. This is the first-ever built-to-suit arrangement between Amazon and Blackstone anywhere in the world. The facility is expected to be ready by October.
The warehousing facility is coming up close to Khera Kalan in northwest Delhi, close to the commercial and industrial belts in the city. The land and some of the warehousing assets, spread just over 1.5 million sq ft, were acquired by Blackstone in 2021 from real estate developer TARC Ltd for Rs 295 crore.
Currently, Amazon India has fulfillment centres spread across 15 States with 43 million cubic feet of storage space. The fulfillment centres of Amazon are one notch above simply a storage space, since these are warehouses where incoming (confirmed) orders are received, packed, and shipped out to customers. Under Horizon Industrial Parks, Blackstone owns 17 logistics assets in India totaling over 1,000 acres with a development potential of 25 million sq ft.
