Actis, Mahindra Lifespaces form logistics JV, to develop 16-17 million sq ft facilities
Actis, a global investor in sustainable infrastructure, and Mahindra Lifespaces, the realty and infrastructure development arm of the Mahindra Group, has set up a joint venture to develop over 16-17 million sq ft industrial and logistics real estate facilities across India.
The joint platform Ample Parks is looking to acquire more than 700-750 acres land parcels across the country to develop these 15-17 industrial and logistics parks through greenfield and brownfield sites over the next five-six years.
“India’s industrial and logistics sector represents a tremendous investment opportunity, with the country’s market strongly benefitting from a boom in consumer demand domestically and a realignment of supply chains globally in favour of India, with many corporations implementing a China Plus One strategy,” said Brian Chinappi, Partner, head of real estate at Actis.
The business has completed its first acquisition, a prime 70-acre industrial land parcel within Mahindra World City, Chennai, to develop an integrated industrial and logistics park with institutional grade buildings. Ample Parks will be investing around Rs 800 crore in this project.
“By combining Actis's global expertise with our deep understanding of the Indian market, we are poised to create a transformative platform to meet the evolving needs of businesses. This initiative fits well into the state-of-the-art facilities within an already established, self-contained ecosystem,” said Amit Sinha, MD & CEO, Mahindra Lifespaces.
“Actis will own 67% in the
