Logicap Management Pte. Ltd., a portfolio company of Rava Partners, has announced a joint venture with Mitsubishi Estate (MEC) to develop industrial and logistics facilities across key areas in India. This collaboration aims to address the growing demand for modern infrastructure in the country.
The initial portfolio for the joint venture includes two large-scale facilities located in Gurgaon, Haryana, within the National Capital Region (NCR). Covering a total area of 29 hectares, these projects offer an effective area of 179,000 square meters and are designed to support various industries, including manufacturing and e-commerce.
These facilities, developed by Pragati Warehousing—a subsidiary of Logicap—have been fully occupied since their completion in 2021 and 2022, indicating strong demand for high-quality logistics infrastructure. Their strategic location provides direct access to major highways and industrial centers, which is crucial for meeting India’s supply chain needs.
Logicap operates Pragati Warehousing, known for its extensive experience in developing logistics facilities. The company has previously developed over 12 million square feet of Grade-A warehouses.
Col Jitender Yadav, Founder of Pragati Warehousing, emphasized the importance of this collaboration in creating facilities that meet global standards and address the current and future infrastructure challenges in India.
The joint venture aims to enhance India’s logistics capacity by offering environmentally certified facilities that align with international requirements. Both companies are committed to creating a network of high-quality assets that will contribute to the country’s economic growth.
Priyank Shah, Head of Fund Management at Logicap Management, expressed enthusiasm for partnering with MEC and highlighted plans to expand their portfolio by acquiring and building an additional 15 million square feet of logistics capacity in the coming year.
India’s industrial and logistics sector is poised for growth, fueled by economic expansion and increasing demand for efficient infrastructure. By 2025, India is expected to emerge as the world’s fourth-largest consumer market, further driving the need for scalable logistics solutions.
As regions like Chennai and Pune develop under the “Make in India” initiative, demand for modern industrial facilities is expected to rise. The joint venture aims to capitalize on these opportunities, with a focus on sustainability and innovative design. Both facilities in the NCR have achieved LEED Gold and Indian Green Building Council Gold certifications, reflecting their commitment to minimizing environmental impact.
Also Read: India’s Logistics and Industrial Sector Shows Robust Growth in H1 2024
