Warehousing & Logistics

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Mirae Asset Global Investments purchases a logistics centre near Mumbai

Mirae Asset Global Investments has acquired a logistics centre near Mumbai for $15.9m in an effort to expand its portfolio in India. The acquisition came as demand for logistics centres is surging rapidly due to the fast-paced growth in e-commerce and India's rapid economic growth. The company plans to expand its investment in the logistics business in major Indian hubs, including Mumbai, in the future and is also exploring more investment opportunities in logistics and data centres in major cities across India. Mirae Asset Global Investments, a South Korean asset management company, has made a strategic move to expand its portfolio in one of the world's fastest growing economies, by acquiring a logistics centre near Mumbai. The Indian unit of the company, Mirae Asset Global Investments India, recently purchased a 100% stake in the Bhiwandi logistics centre from Indian co...

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Government to set up 35 Multi-Modal Logistics Parks across the country

The Government of India is gearing up to develop around 35 Multi-Modal Logistics Parks (MMLP) across the country at a total capital cost of Rs 50000 crores. The project is being headed by The National Highways Logistics Management Ltd, a subsidiary of The National Highways Authority of India. Of the 35 projects in the pipeline,15 will be awarded in the next three years. Work has already begun for the development of one such park in Chennai, the tender for which was awarded to Reliance Industries (RIL). This will be followed by parks in Indore, Nagpur, Bangalore, Coimbatore, Hyderabad, Pune and Anantapur. The development of the latter will commence by the end of the next fiscal year. The development of MMLP is part of the Bharatmala Pariyojna program of 2017....

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Blackstone secures North India’s largest warehousing deal for 700cr

In what is being construed as one of the largest warehousing deals in northern India, Blackstone has reportedly paid a sum of Rs 700 crores to Vertical Housing for their warehousing assets in Jhajjar, Haryana. The asset comprises of both operational assets and strategically located land plots that lay the foundation for potential future growth. Approximately 1.5 million square feet of the assets acquired are currently leased and functional. During the first half of 2022, the I&L industry attracted around $144 million in greenfield and brownfield assets from international and domestic firms....

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Indian government looks to set up credit guarantee fund for warehouses

The Indian government is in conversation with experts to set up a credit guarantee scheme for construction of warehouses in the country. The proposed fund will be developed under the Warehousing Development and Regulatory Authority (WDRA). Their goal will be to work with banks and non-banking institutions to offer credit facilities only to entities with NWRs or e-NWRs, thereby ensuring more people line up to register. With this fund, they hope to ease capital flow while reducing cost of capital for construction....

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Indian Warehousing must grow to USD 3.8 billion to meet future demand

As per recent reports published by CREDAI & Anarock, equity investments of USD 3.8 billion would be needed to meet anticipated demand of 223 million square feet of warehousing space in India. This calendar year, Grade A warehousing supply is said to have risen by a CAGR of 10.6 per cent. Experts believe the sector currently has over USD 900 million in the form of ‘dry powder’ funding from existing commitments signifying a latent investment opportunity of almost USD 2.8 billion....