Mahindra Lifespace Developers and Actis to establish JV

11 Oct 2022 , 01:34 AM

Mahindra Lifespace Developers today announced that it has entered into an agreement with Actis a leading global investor in sustainable infrastructure to establish a Joint Venture Platform for developing industrial and logistics real estate facilities across India Up to 100 acres of land with ready infrastructure in the two Mahindra World Cities offering a built-up potential of over two million square feet has been earmarked as seed sites to be acquired and developed by the Joint Venture Platform over time subject to requisite approvals The Joint Venture will also simultaneously acquire and develop other greenfield and brownfield sites in key markets across India aiming to become a leading real estate solutions provider to global and local corporations The total investment in the business over the initial years including debt is estimated to be Rs 2200 crore Actis will own a majority stake and Mahindra Lifespaces will have a significant minority Industrial and warehousing have emerged as a high-growth real estate asset class buoyed by rising consumer demand and accelerating manufacturing investment The National Logistics Policy announced recently by the Prime Minister is expected to give a further fillip to investments in the sector