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Mahindra Lifespaces-Actis JV to IndoSpace inks
develop logistics real estate in India ₹3000 cr MoU with
ahindra Lifespace million square feet, has been Karnataka government
MDevelopers, the real estate earmarked as seed sites to be
and infrastructure development acquired and developed by the joint at investment summit
arm of the Mahindra Group, venture platform over time, subject
announced that it has agreed with to requisite approvals. ndoSpace, India's largest
Actis, a leading global investor The JV will also simultaneously Ideveloper and owner of Grade A
in sustainable infrastructure, to acquire and develop other industrial real estate, signed an
establish a joint venture platform greenfield and brownfield sites in MoU to invest INR 3,000 crore in
for developing industrial and key markets across India, aiming the state to boost its warehousing
logistics real estate facilities to become a leading real estate and logistics sector.
across India. solutions provider to global and The MoU, which is the largest
Up to 100 acres of land with local corporations. The total the state has seen in value by any
ready infrastructure in the two investment in the business over industrial developer, is for seven
Mahindra World Cities, offering the initial years, including debt, is years and promises to generate
a built-up potential of over two estimated to be Rs 2,200 crore. 14,000 new jobs in Karnataka.
Rajesh Jaggi, vice chairman
- Real Estate, Everstone Group,
said: "Our investment, which is
the largest ever in Karnataka,
will work towards enhancing the
industrial infrastructure in the
state. IndoSpace already has a
significant presence in the state,
and we have enabled tenants
from sectors such as electronics,
automobile, e-commerce,
fashion, supply chain, and
more to grow. We look
forward to supporting
the Karnataka
government and
Ecom Express opens grocery making a positive
impact in the
fulfilment centre in Coimbatore state."
com Express Limited announced cater to grocery items including the
Ethe expansion of its fulfilment temperature-controlled category and
business network by launching a fruits & vegetables. The new facility
fulfilment centre in Palladam near is designed to support one of the
Coimbatore, Tamil Nadu. top e-grocery players and it is the
It is the first fulfilment centre in company's first grocery fulfilment
this part of the region which will centre in Tamil Nadu and seventh
in the South region. The facility will
cater to 50+ dark stores owned by the
grocery player.
The facility is located strategically
with consideration of network
centricity as Coimbatore offers easy
access to Bengaluru, north Kerala,
south Karnataka, and west and south
Tamil Nadu. This expansion will help
the grocery brand to offer a wider
selection and enable faster deliveries
of customer orders within the region
and towns in the neighbouring states.
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November - December 2022 www.itln.in
