Welspun One, an integrated fund and development management platform, has acquired a 22-acre site along the Gurugram-NH8 corridor. The company plans to invest INR 125 crore to develop a logistics park, which is expected to generate employment for 1,200-1,500 people. JLL facilitated the transaction.
The Gurugram-NH8 corridor is the largest logistics sub-market in India, with a total supply of 64 million square feet for Grade A and B spaces as of H1 2024, followed by Bhiwandi in Mumbai. Gurugram-NH8 corridor witnessed a gross absorption of 3.7 million square feet in H1 2024, almost doubling the absorption recorded during the same period in the previous year (H1 2023).
Yogesh Shevade, Head – Logistics and Industrial, India, JLL, described this land transaction as unique, as it involves a long-term lease of aggregated land from multiple private landlords – an emerging transaction typology in the country.
The site is strategically located near existing major logistics parks, enhancing its appeal to tenants. Welspun One’s proposed development will complement the surrounding infrastructure, which includes tenants like leading third party logistics players, e-commerce giants, and retail players.
Anshul Singhal, Managing Director, Welspun One, stated that this acquisition marks a significant step in expanding the company’s footprint in one of India’s vital logistics corridors.
By leveraging this prime location, Welspun One aims to create a cutting-edge logistics hub that will support its tenants’ operational efficiencies and contribute to India’s broader economic growth. Welspun One is committed to developing world-class facilities that will enhance the region’s connectivity and drive industrial growth, further cementing its role in the nation’s thriving logistics sector.
