Horizon Industrial Parks, a portfolio of Grade A logistics parks in India owned and managed by Blackstone Real Estate funds, has signed a long-term tenancy agreement with MOVIN, a newly launched logistics joint venture between UPS and InterGlobe Enterprises.
MOVIN which was launched in May 2022, is a new logistics brand combining UPS’ global logistics expertise with InterGlobe’s deep understanding of the Indian market. It offers a range of express and premium B2B services to customers across India. The new warehousing facility in Horizon’s high-quality modern logistics park will be an important step for MOVIN to establish its presence in the market.
JB Singh, Director, InterGlobe Enterprises, said: “MOVIN, is a logistics brand built for India, it is a joint venture between UPS and InterGlobe. MOVIN aspires to be an agile and collaborative organization, created with the vision to achieve results, and lead the change in the logistics industry.To accomplish this vision, we wanted to partner with an organization that shares the same values as us, and Horizon Industrial Parks is the preferred partner for us. From our very first interaction, the teams at MOVIN and Horizon have worked with blazing speed and in a collaborative manner to conclude this transaction in record time. .”
Rahul Pandit, Chief Executive Officer, Horizon Industrial Parks, said: “Horizon is thrilled to welcome MOVIN to our growing network. Logistics provides the backbone of consumption growth across many sectors including automotive, pharmaceuticals, industrials, FMCG, consumables and lifestyle, and supports job growth. At Horizon, we’re committed to supporting India’s economic aspirations by providing a world-class logistics infrastructure and driving job creation.”
Horizon has one of the largest portfolios of high-quality modern warehousing and industrial parks in India. The 25 million square feet portfolio is anchored by tenants in fast-growing sectors such as e-commerce, retail, auto (electric vehicles), and logistics. Horizon’s presence in NCR comprises over 6 million square feet of development potential across four industrial parks.
About Horizon Industrial Parks
Horizon Industrial Parks is a logistics platform in India, owned and managed by Blackstone Real Estate funds. The current portfolio comprises 17 industrial and logistics parks spread across more than 1,000 acres and with a development potential of 25 million square feet, which are located in eight key markets in India.
About MOVIN
UPS and InterGlobe Enterprises formed a joint venture, IRIS Transportation Services Pvt Ltd. to create MOVIN, a new logistics brand in India. The name MOVIN is the combination of Movement and India (MOVEMENT+INDIA). MOVIN Service is built for Indian businesses in the fast lane. Its pace and agility will match their ambitions, and its service levels will exceed their expectations. MOVIN will offer a suite of B2B domestic services including a fully predictable, day-definite service, as well as express, time definite service across the country. With seamless integration across air and ground networks, these express corridors will enable an uninterrupted flow of goods, backed by consistent, predictable, and responsive operations. For more details, visit www.movin.in
