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....
Zomato leases 3.08 lakh sq. ft. warehousing space in Bengaluru's Sumadhura Logistics Park
Zomato has secured a 7-year lease for 3.08 lakh sq. ft. of warehousing space at Sumadhura Logistics Park near Bengaluru. This deal, marking one of Zomato's largest warehousing transactions, comes as the company reported a net profit of INR 138 crore for the October-December period. Sumadhura Logistics Park, with an initial investment of INR 600 crore, spans 100 acres and offers 2.5 million sq. ft. of commercial warehouse space. The park aims to expand to 6 million sq. ft. in the next phase. Warehouses play a crucial role in buffering against disruptions, with retail being a key driver of warehousing demand in India....
Metro Brands Ltd leases 3.25 lakh square feet warehouse in Bhiwandi, Mumbai
Metro Brands Ltd secures its largest warehousing space, a 3.25 lakh sq ft facility in Bhiwandi near Mumbai, for a five-year term. With over 826 stores nationwide, the move supports the company's expansion strategy. Facilitated by Colliers India, the transaction underscores the resurgence of the retail industry and rapid advancements in warehousing. RK Builders Group, the lessor, brings a strong track record to the deal. Reflecting broader trends, the industrial and warehousing sector witnessed steady growth, with Mumbai's Bhiwandi emerging as a preferred market. This strategic move aligns with Metro Brands' vision for aggressive growth and commitment to operational efficiency....
This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Prop News Time reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Prop News Time for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Prop News Time will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 (“RERA”) and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Prop News Time accepts no responsibility for keeping the information on this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Prop News Time does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention of third-party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Prop News Time accepts no responsibility for the content, reliability and information provided on these third-party websites. Prop News Time will not be held liable for any personal information or data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Prop News Time is not liable for the same. All details in the form of news stories, photos and videos provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. This Site is for guidance only. Your use of this Site – including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional–client relationship between you and Prop News Time. Prop News Time cannot accept you as a client until certain formalities and requirements are met.
Cookie Disclaimer
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy