Lodha, a real estate developer, has announced a $1 billion partnership with Bain Capital and Ivanhoé Cambridge to create a next-generation green digital infrastructure platform that will include logistics and light industrial parks as well as in-city fulfilment centres across the country. To serve India’s digital economy, the platform will invest around $1 billion to create around 30 million square feet of operating assets. Each of the three partners will own approximately 33% of the property, with Lodha leading the development, operations, and management of the assets. Abhishek Lodha, MD & CEO of the Lodha Group, stated that with the rapid digitization of our economy and the advancement of ‘Make in India,’ coupled with most global manufacturers’ China + 1 strategy, there is a huge demand for Grade-A digital infrastructure in the country. The platform will plan the development of industrial and logistics parks as well as in-city fulfilment centres across multiple cities in India, following the government’s focus on improving logistics efficiency and creating jobs in various parts of the country. The first project is a 110-acre logistics and industrial park in Palava, Mumbai, which is well-known for its digital infrastructure. In addition, the platform has begun looking at land acquisitions and developed/underdevelopment projects in these asset classes across India.
Lodha in JV unveils $1-bn logistics & industrial parks
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AUTHOR: Yukta Singh