LOGOS, a prominent logistics real estate company in the Asia Pacific region, has joined forces with Ivanhoe Cambridge, its venture partner, to purchase a substantial 77-acre industrial land parcel located in Pune's Chakan industrial area. The objective behind this acquisition is to establish a sprawling logistics park within the region. The park's development aims to cater to the increasing demand for efficient and extensive logistics facilities in Pune, an industrial hub. This strategic move by LOGOS and Ivanhoe Cambridge highlights their commitment to expanding their presence in the logistics sector.
LOGOS, a major logistics real estate player in the Asia Pacific region, along with its venture partner Ivanhoe Cambridge, has made a significant acquisition. They have purchased a sprawling 77-acre industrial land parcel in Pune's Chakan industrial area, with the intention of developing a large-scale logistics park.
This land parcel holds immense potential for development, boasting over 2.2 million square feet of space. To undertake this ambitious project, LOGOS India and Canadian institutional investor Ivanhoe Cambridge's logistics venture will acquire LOGOS Chakan Logistics Estate and allocate an investment of ?650 crore.
Trent Iliffe, the Managing Director of LOGOS, expressed excitement about the project. He stated that the LOGOS India-Ivanhoe Cambridge logistics venture possesses an investment capacity of $800 million, enabling them to develop and own state-of-the-art industrial and logistics facilities in India's key markets. Iliffe emphasized the significance of the Chakan site, highlighting its status as one of the largest industrial zoned lands in the area. This makes it ideal for delivering a prime-grade industrial and logistics estate. Moreover, the site's strategic location provides strong connectivity to vital transport infrastructure, enabling it to cater to the increasing demand from sectors such as e-vehicles, auto ancillaries, and electronics.
The master plan for the site entails sustainability-driven development, with Grade A industrial and logistics buildings forming an integral part of the project. Its advantageous position grants direct access to the Mumbai-Pune Expressway and Mumbai-Bangalore NH 48, facilitating connectivity between the Pune region and Mumbai's port, as well as other crucial infrastructure.
Mehul Shah, CEO of LOGOS India, noted the rising demand for world-class and sustainable infrastructure in the area. He stated that through this development, LOGOS will be able to fulfil this demand efficiently and in a timely manner, meeting the requirements of customers seeking top-notch facilities.
With the combined expertise and resources of LOGOS and Ivanhoe Cambridge, this venture aims to tap into the growing opportunities in the logistics sector, capitalize on the region's market potential, and contribute to the development of modern and efficient industrial and logistics facilities in India.
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