Mahindra Lifespace, Actis Partner to Develop Chennai Industrial Park

06 Aug 2024 CW Team

Mahindra Lifespace Developers and Actis have established a joint venture platform called 'Ample Parks' to focus on the development of industrial and logistics parks, with their first project covering 70 acre in Chennai. According to a company statement, Actis, a leading global investor in sustainable infrastructure, and Mahindra Lifespace have officially launched Ample Parks, which is an Indian industrial and logistics real estate developer and operator.

The joint venture, Ample Parks, plans to acquire and develop approximately 1.5 million square metres of greenfield and brownfield sites in key Indian markets over the next few years. Its goal is to become a leading provider of industrial and logistics real estate solutions for both global and local corporations.

Actis holds the majority stake in the joint venture, while Mahindra Lifespace holds a significant minority stake. The platform is supported by an experienced management team, with Akash Rastogi appointed as Chief Executive Officer.

The venture has completed its initial acquisition of a prime 70-acre industrial land parcel within Mahindra World City in Chennai, where it plans to develop an integrated industrial and logistics park featuring institutional-grade buildings. Amit Sinha, Managing Director and Chief Executive Officer at Mahindra Lifespace, remarked that the launch of Ample Parks represents a major milestone in their commitment to developing sustainable and world-class industrial infrastructure in India.

Mahindra Lifespace's development portfolio includes 37.95 million square feet of completed, on-going, and forthcoming residential projects across seven Indian cities, as well as over 5,000 acre of on-going and upcoming projects under development or management in its integrated developments and industrial clusters across four locations.

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