Actis and Mahindra Lifespace Developers Ltd. have formally launched joint venture Ample Parks, an Indian industrial and logistics real estate developer and operator.
A highly experienced management team has been appointed, with CEO Akash Rastogi leading the company. Ample Parks aims to acquire and develop approximately 1.5 million square metres of greenfield and brownfield sites in key markets across India with the aim of establishing itself as a leading industrial and logistics real estate solutions provider to global and local corporations.
The business has completed its first acquisition, a prime 70 acres industrial land parcel within Mahindra World City, Chennai, to develop an integrated industrial and logistics park.
Brian Chinappi, Partner, Head of Real Estate at Actis, commented: “I’m delighted to see Ample Parks get off the ground with this first acquisition. 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. By bringing to bear Actis’ track record in sustainable real estate and Mahindra Lifespaces’ broader market expertise, Ample Parks is set to become a key player in this space, capitalising on the growth of this new economy real estate for our investors.”
Raghvendra Chandak, Director, Real Estate at Actis, added: “Our aspiration is for the platform to become one of the industrial and warehousing space providers of choice in India.”
Read the full announcement: https://lnkd.in/e6HuiWSK
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