DP World, a global logistics leader, has leased 150,000 square feet of office space in the prestigious Aurum @ Parc development in Navi Mumbai's Ghansoli locality. This lease agreement, spanning five years with a three-year lock-in period, marks DP World's strategic expansion in India. The new office will house their fourth Global Capability Center (GCC) in the country, reflecting India's growing importance in DP World's global operations. With India's logistics market projected to reach USD 320 billion by 2025, DP World's investment aligns with their expansion plans, which include developing port facilities and significant capital expenditure. The arrival of DP World in Navi Mumbai is expected to generate employment opportunities and establish the city as a major logistics hub in India.
A significant development in the Indian commercial real estate market, particularly for Navi Mumbai, has emerged. Global logistics leader DP World has signed a major lease agreement, signaling their growing commitment to India.
According to reliable sources, DP World has leased a substantial 150,000 square feet of office space spread across three floors in the "@2" commercial tower. This tower is part of the prestigious Aurum @ Parc mixed-use development situated in Navi Mumbai's Ghansoli locality. This long-term lease agreement, spanning five years with a three-year lock-in period, reflects DP World's strategic expansion plans in India. The new office space will house their fourth Global Capability Center (GCC) in the country, joining existing facilities in Hyderabad, Bengaluru, and Gurgaon. This expansion highlights India's growing importance in DP World's global operations.
The "@2" commercial tower offers a prime location in Navi Mumbai, boasting a well-established tenant profile. Sharing the space will be prominent companies like ICICI Bank, Mizuho Bank, Lloyds Register, and Axis Securities. This deal, finalized recently, includes a standard industry practice of a 5% annual rent escalation. Over the lease period, the total rent is estimated to reach Rs 765 crore, indicating a significant investment by DP World.
DP World's decision to establish a new GCC in Navi Mumbai highlights their belief in the surging Indian logistics sector. India's logistics market, valued at approximately USD 215 billion in 2023 according to a recent report by Invest India, is projected to reach a staggering USD 320 billion by 2025. This phenomenal growth presents an attractive opportunity for DP World, a global leader with an annual revenue of USD 18 billion. Their investment aligns with their ongoing expansion plans in India, which encompass not only establishing new offices but also developing and upgrading port facilities. DP World has earmarked a significant capital expenditure budget of around USD 2 billion for this year alone. These investments will be directed towards projects in the UAE, UK, India, and other key strategic regions.
The arrival of DP World in Navi Mumbai is expected to have a positive ripple effect beyond the immediate commercial real estate market. The creation of a new GCC is likely to generate significant employment opportunities in the region, attracting skilled professionals in logistics and related fields. Furthermore, the presence of a global leader like DP World could potentially attract other logistics companies to Navi Mumbai, establishing the city as a major logistics hub within India.
This expansion has the potential to be a game-changer, not only for the company but also for the city and the entire Indian logistics landscape.
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