Ample Parks to Develop 1.5 Million Sqm Industrial & Logistics Parks Across India

An estimated 1.5 million square meters of greenfield and brownfield logistics and industrial parks in India will be acquired and developed by Ample Parks, a joint venture between Mahindra Lifespaces and Actis, a worldwide investor in sustainable infrastructure.

In October 2022, Actis and Mahindra Lifespaces signed a contract to form an integrated company that would build logistics and industrial real estate facilities all throughout India.

"Over the next few years, Ample Parks hopes to establish itself as a leading industrial and logistics real estate solutions provider to global and local corporations by acquiring and developing approximately 1.5 million sq m of greenfield and brownfield sites in key markets throughout India," the company stated in a statement.

According to the statement, CEO Akash Rastogi will oversee the recently established joint venture, Ample Parks.

Actis has a sizable minority investment in this joint venture, while Mahindra Lifespaces holds the majority of the venture. Ample Parks will benefit from Mahindra Lifespaces's access to premium land parcels and important stakeholder ties in India, as well as Actis's vast worldwide network and real estate knowledge.

The park will profit from Mahindra World metropolis's first integrated commercial metropolis in India, which has good road, rail, and port connectivity, as well as its strategic location, accessible workforce, and top-rate infrastructure.

"I'm thrilled to see Ample Parks make this initial acquisition and get off the ground. According to Brian Chinappi, Partner and Head of Real Estate at Actis, "India's industrial and logistics sector represents a tremendous investment opportunity, with the country's market strongly benefiting from a boom in domestic consumer demand and a realignment of supply chains globally in favour of India, with many corporations implementing a China Plus One strategy."

The speaker went on to say that Ample Parks is poised to become a major player in this field and help our investors profit from the expansion of this new economy in real estate by leveraging Actis' track record in sustainable real estate and Mahindra Lifespaces' wider market expertise.

"The opening of Ample Parks is a critical turning point in our dedication to creating world-class, sustainable industrial infrastructure in India. Managing Director and CEO of Mahindra Lifespaces, Amit Sinha, stated, "We are positioned to create a transformative platform to meet the evolving needs of businesses by combining Actis's global expertise with our deep understanding of the Indian market."

Raghvendra Chandak, Director of Real Estate at Actis, commented on the development, saying, "Ample Parks is off to a great start developing this project at a strategic location in Chennai's thriving industrial ecosystem." With solutions designed to satisfy the demands of industrial clients and supply chain operators, our goal is for the platform to emerge as one of India's leading providers of industrial and storage space.

Actis has committed and invested around USD 1.7 billion in Asian real estate since its founding.