Aldar and DP World to develop a Grade A logistics park in Dubai
Aldar Properties has partnered with DP World to fund and develop a 1.55 million square feet Grade A logistics park at National Industries Park (NIP) in Jebel Ali, Dubai. This strategic agreement aligns with Aldar's AED 1 billion investment plan to expand its logistics real estate business in Abu Dhabi and Dubai. The park will feature LEED-certified modular buildings for 3PL, eCommerce, and retail tenants. Construction starts in Q4 2024, with completion in Q4 2025. This collaboration enhances logistics capabilities, supporting business growth and diversification in Dubai's logistics sector, and underscores Aldar and DP World's commitment to innovative logistics solutions....
Panattoni begins construction on INR 200 crore Logistics park in Haryana
Global logistics giant Panattoni has officially started its first project in India with the groundbreaking of Panattoni Park NH71 in Haryana. Located on National Highway 352, the 66,000 sqm park will feature over 32,000 sqm of warehousing space designed to high industry standards, including 100% wastewater recycling and ample green cover. This INR 200 crore investment signifies Panattoni's commitment to India, aligning with the country's growing demand for modern logistics solutions. The park's strategic location near major industrial hubs like Luhari and Farrukhnagar will streamline logistics operations and generate significant local employment opportunities....
India's warehousing sector faces land acquisition roadblocks amid rising demand
India's warehousing sector, crucial for economic expansion, faces a hurdle in land acquisition. As demand surges amid rapid economic growth, complexities in acquiring land due to fragmented ownership structures and lengthy approval processes slow development. Global interest, like Panattoni's USD 100 million annual investment plan, underscores market potential, yet initial delays near Delhi highlight challenges. Streamlining land acquisition is vital; simplifying procedures, enhancing data transparency on ownership, and offering incentives can optimise development. Despite obstacles, commitment from firms like Panattoni and expansions by Blackstone and Prologis signal optimism, advocating for collaborative efforts to unlock India's warehousing sector's full potential....
Welspun One raises INR 2,275 crore for modern warehousing expansion
Welspun One, a key player in India's warehousing sector, has secured a landmark INR 2,275 crore (USD 281 million) for its second fund, highlighting robust investor interest. Focused on "new-age" warehousing solutions, the company targets high-growth segments like urban distribution centres, cold storage facilities, and logistics hubs near ports and airports. These initiatives cater to the surging demand fueled by e-commerce and efficient supply chain requirements. With plans to develop 8 million square feet, expanding their portfolio to 18 million square feet, Welspun One aims to enhance delivery efficiency and support India's economic growth through strategic infrastructure investments....
NES to build 5 MW data centre in Pune, plans 100 MW expansion across India
Natural Environment Solutions (NES) is set to establish a cutting-edge 5-megawatt data centre in Pune's Hinjewadi, marking a significant investment in the city's digital infrastructure. NES plans to scale up to over 100 MW capacity across India within three years, reflecting the nation's rapidly expanding digital landscape. India's data centre market, projected to reach USD 4.7 billion by 2024, is driven by increasing internet penetration and cloud computing adoption. NES aims to revolutionise data centres with a focus on efficiency, sustainability, and security, aligning with India's goals for renewable energy and advanced digital solutions....
A.P. Moller Capital vies for a majority stake in Pristine Logistics
Pristine Logistics & Infraprojects, a prominent Indian logistics company, has caught the attention of global investment firms. Global Infrastructure Partners (GIP), backed by BlackRock, holds a 57% stake in Pristine and is looking to exit. A.P. Moller Capital has emerged as the frontrunner to acquire this majority stake for around USD 500 million, reflecting confidence in Pristine's growth potential. Other entities, including Midrail LLC and an EQT-Temasek joint venture, are also vying for the stake. Founded in 2008, Pristine has rapidly expanded, operating logistics parks and owning substantial assets. The company has been consolidating the industry, acquiring firms like Sical Logistics. Pristine's planned IPO was shelved as global investors showed interest. The Indian logistics sector's appeal has driven this investor interest in Pristine, positioning it as a key player in the evolving...
CJ Darcl logistics expands in Bangalore with 125,000 sq ft lease at IndoSpace
Bangalore's logistics sector gets a boost as CJ Darcl Logistics leases 125,000 sq ft of warehousing space from IndoSpace. The nine-year agreement, located in IndoSpace's Narasapura Industrial and Logistics Park, strategically enhances CJ Darcl's operational capabilities. This partnership leverages IndoSpace's extensive network across 11 cities, offering CJ Darcl access to efficient logistics infrastructure crucial for expanding their Warehousing and Distribution (W&D) services. The move underscores Bangalore's role as a key logistics hub in India, supporting economic growth and meeting growing demand for high-quality logistics solutions amid rising e-commerce activity....
India's warehousing sector is projected rise to 300 million sq. ft. by 2025
A new report by CREDAI and CRE Matrix forecasts robust growth in India's Grade A warehousing sector, projecting national stock to reach 300 million square feet (msf) by 2025, up from the current 216.2 msf. The surge is driven by the expanding industrial base, increasing manufacturing needs, and booming e-commerce, which requires efficient storage for nationwide order fulfilment. Rental prices for Grade A warehouses have risen by 5% in Q1 2024, with a healthy absorption-to-supply ratio indicating swift leasing and minimal vacancies. Pune and NCR lead demand, contributing 45% of Grade A space needs, with Mumbai Metropolitan Region and NCR combining for 53%. The report underscores government policies supporting the sector, including infrastructure status for logistics, GST implementation, and 100% FDI in warehousing, creating an attractive investment environment. With an anticipated 83.8 ms...
ESR Group expands presence in Tamil Nadu with INR 276 crore investment
ESR Group, a leading Asia-Pacific real estate developer, has acquired an additional 27 acres of land in Oragadam, Chennai, augmenting its existing industrial and logistics park to 107 acres. This expansion enables the development of an additional 2.5 million square feet of warehousing and industrial space, totaling an investment of over INR 276 crore (USD 33 million). Positioned strategically within the Oragadam-Sriperumbudur industrial cluster, the park aims to bolster Tamil Nadu's industrial landscape. ESR's commitment extends beyond infrastructure to creating a sustainable ecosystem, integrating green building practices to support environmental stewardship and enhance operational efficiencies for businesses in the region....
India's manufacturing sector booms as MNCs shift focus from China
India's manufacturing sector is rapidly ascending, emerging as a favored destination for multinational corporations seeking to decentralize from China. The country's proactive governmental measures, including the influential "Make in India" initiative and Production Linked Incentive (PLI) schemes, have catalyzed this shift. With a burgeoning demand for light manufacturing and warehousing spaces, sectors like engineering, automotive, electronics, and white goods are experiencing exponential growth. India's allure lies in its vast and youthful population, burgeoning domestic market, improved infrastructure through initiatives like the Delhi-Mumbai Industrial Corridor, and investor-friendly policies. The surge in foreign direct investment heralds a new era of confidence in India's manufacturing prowess, setting the stage for further expansion and global prominence....
Waverock IT park in Hyderabad sold for INR 2,200 crore to Shapoorji Pallonji Group and Allianz Real Estate (SPREF II)
Hyderabad's prominent IT park, Waverock, has changed ownership once again. A joint venture between Shapoorji Pallonji Group and Allianz Real Estate (SPREF II) exited their investment in the property, selling it for approximately INR 2,200 crore. Waverock, a Grade-A IT SEZ located in Gachibowli, spans 2.4 million square feet and houses major tech companies like Apple. This transaction, involving a new joint venture of global institutional investors, including GIC and Xander Group, marks Waverock's third ownership change in recent years. The deal underscores the continued attractiveness of India's real estate market and Hyderabad's thriving IT sector....
TREL announces strong profit growth and debt reduction in Q4 FY24
Transindia Real Estate Limited (TREL), a leading player in the Indian real estate, warehousing and commercial logistics sector, recently announced its financial results for the quarter and full year ended March 2024. The company reported a drop in sales for both the quarter and full year but was able to report a significant rise in net profits due to a divestment of completed warehousing assets that helped boost liquidity and reduce debt. TREL has a robust pipeline of new projects and this enhanced liquidity will facilitate the development of world-class logistics infrastructure across multiple locations....
Porter achieves unicorn status with over USD 1 billion valuation
Indian logistics startup Porter has become the third unicorn of 2024, valued at over USD 1 billion, amidst a tough funding environment. Uniquely, Porter achieved this through internal investments rather than traditional venture capital. Around 15-20 individuals, including possibly friends, family, or employees, bought shares from the company's ESOP for INR 25 crore (USD 3.03 million). Founded in 2014, Porter focuses on last-mile delivery with light commercial vehicles. Despite a FY23 loss of INR 175 crore (USD 21.1 million), Porter's revenue doubled to INR 1,753.8 crore (USD 212.3 million). This internal funding success offers hope for other Indian startups amid a funding slowdown....
India leads Asia-Pacific data centre growth with 950 MW capacity, set to add 850 MW in next three years
India leads the Asia-Pacific data centre growth, boasting a capacity of 950 MW, surpassing markets like Australia and Japan. The sector doubled its capacity since the pandemic, with 250 MW added in 2023 and an expected 330 MW in 2024. Mumbai dominates with 50% capacity, followed by Chennai. Emerging cities like Kochi and Jaipur attract development. With over USD 40 billion in investments and Mumbai's strategic location, the industry thrives. As supply surges, tenants gain bargaining power, with demand expected from various sectors. India's data centre sector is set for robust growth, cementing its regional leadership....
Ikea makes Delhi-NCR debut with massive 150,000 sq. ft warehouse
Ikea, the Swedish home furnishing brand, is establishing a 150,000 sq. ft warehouse near Gurugram, its first major venture into the National Capital Region. This move highlights Ikea's dedication to expanding its omni-channel presence in North India, complementing its online platform with physical stores. The warehouse, operational by early next year in Farrukhnagar, will serve as a central hub, fulfilling orders for both online and offline stores. Partnering with logistics leader Rhenus, Ikea aims to leverage its strategic location and efficient operations to meet the surging demand for home furnishing products in Delhi-NCR, setting the stage for a comprehensive expansion strategy in the region by mid-2025....
Emiza unveils 27th warehouse, expands logistics prowess in India
Emiza, a leading warehousing and last-mile logistics provider, expands its footprint by inaugurating its 27th state-of-the-art facility in Mumbai, spanning 125,000 square feet. This strategic move enhances Emiza's capabilities, enabling it to serve diverse industries with optimized storage, efficient picking processes, and cutting-edge technology. The new warehouse boasts advanced features like long-span shelving, dedicated return processing center, and robust security measures. Emiza aims to leverage this expansion to cater to emerging business models and broaden its services across sectors beyond its existing expertise. With successful funding rounds and strategic partnerships, Emiza fortifies its position as a leading 3PL solutions provider in India....
Foxconn leases 550,000 square feet of warehouse space in Chennai's Oragadam Industrial Park
Foxconn, a major Apple supplier and one of the largest electronics manufacturers in the world, has leased about 550,000 square feet of warehouse space in Chennai's ESR Industrial Park located in Oragadam. This comes as exports of iPhones from India are rising sharply. The new facility, one of Foxconn's largest in India, will help optimize its supply chain and logistics to support growing export volumes from its Indian operations. ESR Industrial Park spans 100 acres and is a major industrial hub for electronics and automobile companies. The lease underscores Foxconn's commitment to scaling up production in India to meet rising demand for Apple products....
DP World opens 27,512 sq. ft. warehouse in Loutulim, Goa
DP World has inaugurated a state-of-the-art warehouse in Loutulim, Goa, spanning 27,512 sq. ft., poised to revolutionise the region's logistics landscape, particularly for the chemical and healthcare sectors. Strategically located near Mormugaon Port and Dabolim Airport, the facility ensures efficient transportation, reducing costs and delivery times. With a focus on safety, it features advanced fire protection systems and dedicated personnel to uphold occupational health standards. Tailored for the needs of the chemical and healthcare industries, the warehouse offers customisable storage solutions and advanced warehouse management systems for streamlined operations. As part of DP World's extensive national network, it facilitates seamless connectivity and unlocks new growth opportunities for businesses in Goa....
HealthKart secures warehouse lease in Gurgaon's Logos Luhari Logistics Estate
HealthKart, a leading online nutrition platform, secures its largest warehouse space yet, leasing 2.25 lakh sqft in Logos Luhari Logistics Estate, Gurgaon, facilitated by Worldyard. The move emphasizes HealthKart's commitment to global operational efficiency and customer satisfaction. Amit Chaudhary, Founder of Worldyard, highlights the significance of this decision. Worldyard, renowned for its seamless leasing solutions nationwide, manages prime office, retail, and warehouse properties. Logos logistics park, strategically located with access to NCR's key areas, supports various industries. HealthKart, founded by Sameer Maheshwari, boasts over 200 brands, 100+ retail stores, and strong e-commerce presence....
Mahindra Logistics' FY24: Standalone revenue at INR 1,183 crore, net loss of INR 54.7 crore
Mahindra Logistics Ltd. (MLL) recently disclosed its financial results for the quarter and year ending March 31, 2024, indicating a mixed performance. Standalone revenue slightly rose for both periods, while profitability dipped marginally. However, on a consolidated basis, MLL reported net losses for both Q4 FY24 and FY24, despite a modest revenue increase. Positive strides were observed in segments like 3PL supply chain services, with notable growth in the automotive, engineering, and consumer goods sectors. MLL emphasized its commitment to expansion through strategic acquisitions, exemplified by the recent investment in Zip Zap Logistics. While short-term challenges persist, MLL's focus on growth segments and strategic investments bode well for future prospects....
Industrial and warehousing supply reaches a two-year high of about 7 million square feet in Q1 2024
India's industrial and warehousing sector is witnessing unprecedented growth, driven by a surge in demand reaching nearly 7 million square feet in Q1 2024, the highest in two years. E-commerce, with its rapid expansion, is a primary catalyst, with leasing activity for online retail tripling compared to the previous year. Traditional retailers are also expanding their warehousing needs, reflecting evolving consumer habits. While 3PL companies remain dominant, the rise in demand from sectors like retail and engineering signifies a broader economic upturn. Chennai is emerging as a key market, with leasing activity doubling, underscoring its strategic advantages. However, meeting this demand requires substantial investment in infrastructure and modern warehousing facilities across India's key cities....
Warehousing sector thrives amid e-commerce boom, attracting over INR 8,000 crore in investment
India's warehousing sector is experiencing a significant boom due to the rapid growth of the e-commerce industry and the increasing demand for efficient logistics services, which are valued at billions of dollars. As India's e-commerce market grows rapidly, consumers expect faster delivery times, driving the need for specialised warehousing solutions. Both domestic and global investors are investing heavily in the sector, with big players like Blackstone and LOGOS planning significant expansions. This investment influx, totaling more than INR 8,000 crore, promises accelerated growth and a wider range of high-quality warehousing options. Modern warehouses, built using standardized construction methods and optimised operational practices, are well-positioned to meet the changing needs of businesses, thereby reshaping India's logistics landscape....
India emerges as the new land of opportunity for global warehouse developers
Developers are rushing to meet soaring demand for warehouse space in India, driven by economic growth and supply chain diversification away from China. Projects like the Greenbase industrial park, backed by Blackstone, are expanding to accommodate companies shifting base from China. With India's infrastructure improvements and favorable market conditions, developers like Panattoni and Prologis are investing heavily. However, land acquisition complexities pose challenges, with surging prices and ownership disputes delaying projects. Despite hurdles, India's warehouse leasing market is thriving, attracting global players and signaling a significant shift in the country's industrial landscape....
Tata Motors signs MoU with Tamil Nadu Government to set up automobile manufacturing facility
Tata Motors, India's leading manufacturer of commercial and passenger vehicles, has signed a Memorandum of Understanding with the Government of Tamil Nadu to explore establishing a new vehicle manufacturing facility in the state. The proposed investment of INR 9,000 crore could generate up to 5,000 jobs. If established, it would be Tata Motors' first plant in Tamil Nadu and second in South India. The MoU signing was witnessed by Chief Minister M.K. Stalin and aims to further attract investment to Tamil Nadu's thriving automobile industry centered in Chennai....
Welspun One sells its Gurugram warehouse project for INR 900 million
Welspun One, a prominent industrial real estate developer, recently sealed the sale of a substantial warehousing project in Gurugram for INR 900 million (approximately USD 11 million). This transaction underscores the escalating interest of both domestic and global investors in India's logistics sector. The project, spanning a vast 2.9 lakh sq. ft., strategically located near major highways, enjoyed full occupancy leased to a leading third-party logistics (3PL) player, showcasing Welspun One's proficiency. The company's innovative warehousing Alternative Investment Fund (AIF), amassing over INR 900 million, regulated by SEBI, facilitates local investor engagement in the burgeoning warehouse market....
Property Share launches its first Grade A+ warehousing asset in Jaipur
Property Share, India's largest commercial real estate investment platform, has launched its first warehousing asset on the platform. The asset is a 9.1% yielding Grade A+ warehouse located in Jaipur totaling 528,631 square feet and rented to Flipkart, India's largest e-commerce player. The INR 191 crore warehouse is Flipkart's largest distribution and fulfillment center in Western India, processing 200,000 orders daily. The asset offers state-of-the-art infrastructure and amenities and is strategically located providing access to over 40% of India's e-commerce suppliers. This marks Property Share's entry into the fast-growing Indian warehousing sector driven by demand from e-commerce companies....
Blackstone sets sights on expanding Indian warehouse holdings to over 100 million square feet
Blackstone, a leading asset manager, is gearing up for substantial growth in India's real estate market, with plans to ramp up investments in warehouses to over 100 million square feet in the next two to three years. Additionally, the company eyes potential public offerings for its logistics business to capitalize on India's thriving market. Despite investor caution globally, Blackstone remains bullish on real estate in India and aims to leverage opportunities in hospitality, data centers, and office spaces, driven by the country's robust economic growth and demand dynamics....
Mahindra Logistics launches new fulfilment centre to boost West Bengal's economy
Mahindra Logistics Limited announces the opening of a new 1.1 lakh sq. ft. fulfilment centre in Malda, West Bengal, enhancing its logistics network for grocery and e-commerce sectors. This strategic expansion aims to improve fulfilment and last-mile delivery services, serving Northern West Bengal, Eastern Bihar, and parts of the Northeast. The facility will create over 750 job opportunities and is part of Mahindra Logistics' commitment to diversifying its workforce. With this addition, the company's warehousing capacity in West Bengal increases to 3.3 lakh sq. ft., significantly boosting its logistics capabilities and support for nearly 2000 regional pin codes....
Transindia Real Estate (TREL) to sell its Logistics Park in Jhajjar, Haryana for INR 637 crore
Allcargo Group's subsidiary, Transindia Real Estate (TREL), is set to sell its logistics park in Jhajjar, Haryana, for INR 636.71 crore, aiming to eliminate debt. The divestment includes a 10% stake in various logistics and industrial parks, yielding INR 433.37 crore in cash proceeds. The move aligns with TREL's strategy to focus on infrastructure development and expand operations, evidenced by ongoing projects in Karnataka and potential ventures in Tamil Nadu and Uttar Pradesh. TREL's commitment to quality, innovation, and sustainability is underscored by its track record in managing 5.05 million sq ft of industrial and logistics parks across India....
India's warehousing sector achieves highest annual net occupancy
The latest report by JLL, reveals a significant surge in India's warehousing sector, with total stock reaching 371 million sq. ft by 2023, a 15% YoY growth. Major cities like Delhi NCR, Mumbai, and Bengaluru contribute over half of this stock. The demand for Grade A spaces, driven by hygiene concerns amid COVID-19, led to a net absorption of 40 million sq. ft in 2023. Pune led in absorption with 8 million sq. ft. Overall vacancy rates declined to 15% in 2023 and are expected to further reduce to 8% by 2027, with Grade A vacancy rates projected to remain below 5%. The industry is poised for robust growth, with a projected CAGR of 12% in total warehouse stock and 16% in Grade A stock by 2027....
Walmart aims to triple sourcing from India with a target of USD 10 billion by 2027
Walmart, the global retail giant, plans to triple its sourcing from India, targeting USD 10 billion per year by 2027. At the Walmart Growth Summit, the company emphasized supporting Indian MSMEs and entrepreneurs, already training 50,000 individuals under its Walmart Vriddhi initiative. CEO Doug McMillon and President Kathryn McLay highlighted India's potential, aiming to contribute to its USD 4 trillion economy. The summit facilitates global market access for Indian manufacturers, focusing on diverse categories. Walmart's partnerships in India, including Flipkart and initiatives like Flipkart Wholesale, PhonePe, and Walmart Global Tech India, showcase a holistic approach to fostering growth and innovation....
Warehouse space utilization surges by 21% in 2023, exceeding pre-pandemic levels
Despite economic uncertainty and decreased investment, the warehousing and logistics industry demonstrated resilience in 2023, with warehouse space usage increasing by 21% to 37.8 million sq ft, surpassing pre-pandemic levels. Institutional investment decreased by 65%, totalling USD 646 million, as investors adopted a cautious approach. Third-party logistics (3PL) firms played a crucial role, representing 44% of total absorption. Mumbai led in absorption, while Kolkata experienced a decline due to warehouse shortages. NCR saw a 21% rise in absorption, driven by its strategic location and e-commerce growth. Southern cities remained significant players despite challenges. While 2024 poses uncertainties, long-term growth prospects remain optimistic, with a predicted CAGR of 10%-13% driven by e-commerce expansion and infrastructure development....
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