Welspun One Partners with JLL to Expand Logistics Footprint in Gurgaon with a New 22-Acre Acquisition

Welspun One, an integrated fund and development management platform, has partnered with JLL, a leading global real estate services firm, to acquire a 22-acre site along the Bilaspur-Tauru Road in the Gurgaon/NH-08 corridor. This strategic acquisition aims to expand Welspun One's logistics park footprint in India.

JLL facilitated the transaction, which marks a significant milestone for Welspun One in the fast-growing Gurgaon/NH-08 corridor. As of H1 2024, this corridor boasts a total supply of 64 million sqft for Grade A & B spaces, making it the largest logistics sub-market in India, surpassing Bhiwandi in Mumbai. The region witnessed a gross absorption of 3.7 million sqft in H1 2024, nearly doubling the previous year's figure, underscoring the strong demand for warehousing in the area.

Yogesh Shevade, Head of Logistics & Industrial, India, JLL, highlighted that the transaction involved a long lease of aggregated land from multiple private landlords, an emerging trend in India’s real estate sector. The site’s proximity to existing major logistics parks enhances its attractiveness to potential tenants.

Anshul Singhal, Managing Director of Welspun One, stated, “This acquisition is a crucial step in expanding our presence in one of India’s key logistics corridors. Our goal is to develop a state-of-the-art logistics hub that not only boosts operational efficiencies for our tenants but also contributes to India’s broader economic growth. We are committed to delivering world-class facilities that enhance connectivity and drive industrial growth in the region."

Welspun One plans to invest Rs 125 crore in the Bilaspur-Tauru Road project, which is expected to create employment opportunities for 1,200-1,500 people. The project aligns with the company's vision to build cutting-edge logistics and warehousing facilities that meet the diverse and evolving needs of businesses across various industries.