Singapore-based Logicap Management Ltd., a Rava Partners company, has entered into a joint venture with Mitsubishi Estate Capital (MEC) for the development of contemporary industrial and logistical solutions in the strategic industrial areas of India. The seed portfolio now encompasses planned and potential facilities in the National Capital Region of Delhi, intending to develop standard, eco-friendly facilities that serve industries ranging from basic manufacturing to rapidly developing e-commerce and information technologies.
The starting portfolio of the joint venture comprises two mega units located in Gurgaon, Haryana in the NCR area. They are intended for various sectors from classic production to online sales. All of the facilities have been leased out immediately after their completion in 2021 and early 2022. Situated entirely on premier transport corridors linking to industrial hubs, these assets will be relevant for rising supply chain demands in India.
Logicap operates key development platforms in India, Pragati Warehousing, which oversees the development and management of these logistics facilities. Pragati Warehousing has a track record of developing over 12 million square feet of Grade-A warehouses. This joint venture will play a critical role in advancing India’s logistics capacity by offering cutting-edge, environmentally certified facilities that meet the stringent requirements of global operators.
This partnership marks the beginning of what Logicap and MEC hope will be a long-term collaboration. It is inherent that both companies are focused on creating long and sustainable value through modern logistics platforms. Other than this project, both Logicap and MEC are keen to develop a steady stream of industrial and logistic properties to help augment industrial development in India for the years to come.