Page 28 - ITLN September - October 2023 for Magzter

News

Industrial, logistics leasing across 8

cities in H123 grew 35% Y-o-Y

ndian industrial & logistics Delhi-NCR, Mumbai, and
I(I&L) sector recorded a 35% Chennai led the leasing
Y-o-Y surge in total leasing, activity during the Jan-Jun’23
which stood at 19.1 mn. sq. ft. period, accounting for a 60%
across 8 cities during Jan- share in the total leasing.
June’23 period. All cities, barring Bangalore,
The real estate consulting demonstrated an uptick in
firm CBRE South Asia, I&L leasing compared to the
announced in the findings of its corresponding period last
latest report, ‘CBRE Industrial & year. A significant surge in
Logistics Figures H1 2023’ that supply was recorded, marking
the leasing activity is expected a 78% Y-o-Y increase, and
to sustain its momentum in stood at 17.7 mn. sq. ft.
the Jul-Dec’23 period, which is during Jan-Jun ‘23. This
expected to be partly driven by boost was primarily due to the
festive season sales observed completion of pent-up supply
across the country. in a few cities.

Kerry Indev leases 3 lakh TVS ILP completes $100mn

sq ft warehouse from fund raise from NIIF

IndoSpace in Sri City

VS Industrial & Logistics Parks (TVS ILP),
Ta leading logistics infrastructure and
warehousing company and part of the TVS Mobility
Group, has strengthened its partnership with NIIF
Infrastructure Finance (NIIF IFL).
TVS ILP received the investment in three
phases totaling roughly $100 million. Capitalising
on the partnership, TVS ILP plans to double its
ndoSpace leased 3 lakh sq. manufacturing across India. portfolio to 20 million sq ft with an investment of
Ift. of warehousing space to Rajesh Jaggi, vice chairman approximately $400 million.
3PL services provider Kerry – Real Estate, Everstone Nitin Aggarwal, President, TVS ILP says:
Indev Logistics in Sri City. Group, said, “We are deeply “This investment solidifies TVS ILP's position
The facility, which occupies honoured to continue being as a leading player in the warehousing and
a space of 3 lakh sq. ft. is built the partner of choice for Kerry industrial park segment. Our goal is to become
exclusively for supporting Indev Logistics. This renewed the most trusted industry leader in providing
Mitsubishi Electric India’s association is a testament integrated infrastructure solutions that meet the
(air conditioning business) to the trust they place in highest standards of quality, functionality, and
operations. The 3PL logistics our capabilities, and we will environmental responsibility. The additional funds
provider has a well- continue to innovate and empower us to enhance our sustainability efforts,
established tenant portfolio provide best-in-class solutions and we will look forward to continuing association
including key OEMs from to all our partners and operate with NIIF IFL.”
automotive and electronics with the highest governance.”
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