If you’re into the world of real estate and infrastructure, here’s some exciting news for you. Ample Parks, a joint venture between Actis and Mahindra Lifespace Developers Ltd, is gearing up to invest a whopping ₹800 crore in developing an integrated industrial and logistics park in Chennai.
The project will be located on a prime 70-acre parcel of land at Mahindra World City, with a significant portion of the investment earmarked for land acquisition. Actis will hold a 67% stake in the venture, while Mahindra Lifespace Developers will retain the remaining share.
Brian Chinappi, Partner and Head of Real Estate at Actis, is thrilled about the project, stating that India’s industrial and logistics sector presents a fantastic investment opportunity. With the global shift in supply chains and increasing domestic consumer demand, the timing couldn’t be better for Ample Parks to make its mark in the industry.
In the coming years, Ample Parks plans to develop multiple projects across major Tier-I and Tier-II cities like Mumbai, Pune, Bengaluru, NCR, and others. The company aims to acquire and develop around 1.5 million square meters of greenfield and brownfield sites, establishing itself as a leading provider of industrial and logistics real estate solutions.
The project in Chennai will feature Grade A industrial space, focusing on sustainability and efficiency. Akash Rastogi, CEO and Director of Ample Parks, highlighted the strategic importance of the project, emphasizing the potential for growth in the manufacturing and logistics sectors in India.
Amit Sinha, Managing Director and CEO at Mahindra Lifespaces, expressed his excitement about the collaboration with Actis and the potential impact on India’s industrial and logistics landscape. With a top-tier management team and a commitment to sustainability, Ample Parks aims to become a key player in the industry.
Raghvendra Chandak, Director of Real Estate at Actis, sees the Chennai project as a significant first step for Ample Parks in the thriving industrial ecosystem of the city. With a strategic vision and a focus on tailored solutions for industrial customers, the joint venture is set to make waves in the Indian real estate market.
Overall, the Ample Parks project in Chennai is a promising endeavor that showcases the potential for growth and innovation in India’s industrial and logistics sectors. Stay tuned for more updates on this exciting development!
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