Xander acquires 1 mn sq ft logistics space worth over Rs 400 cr in TN
WAREHOUSING & LOGISTICS

Xander acquires 1 mn sq ft logistics space worth over Rs 400 cr in TN

A private equity real estate arm of The Xander Group Inc, Xander Investment Management, told the media that it had acquired one million sq ft additional warehousing space in the Free Trade and Warehousing Zone (FTWZ) at Sriperumbudur in Tamil Nadu.

According to the sources, the value of the acquisition is about Rs 400 crore to Rs 500 crore.

Xander Group already has one million sq ft of logistics space in FTWZ. This acquisition is a part of its $250 million industrial platforms, which will double its ownership in the park.

The company has the first FTWZ in India and recently has been approved as a multi-sector special economic zone (SEZ). It offers Grade-A warehousing and industrial facilities to operators and manufacturers across the globe.

The new occupiers are DHL, Kerry Indev, DB Schenker, TVS Supply Chain and Seaways Supply Chain.

The spokesperson of Xander said that the company's expansion in FTWZ is because of strong tenant performance and demand from existing and new occupiers. The new units will push logistics and manufacturing sectors in the region with rapid economic development in Tamil Nadu.

Chennai-Bengaluru Industrial Corridor (CBIC) is where the FTWZ is located. It connects Chennai, Ennore and Kamarajar Ports, which contains 20% of the country's traffic. The place is near the industrial zones, which are home to electronics and automobiles, Oragadam, Tiruvallur, Maraimalai Nagar and Kanchipuram.

Xander has been increasing its warehousing platform. It also acquired 31 acres of logistics space in Bagnan, West Bengal, this year, which was its first investment in warehousing in eastern India. In this year, the company leased nearly 1.1 million sq ft of warehousing space to e-commerce companies, including Amazon India and Flipkart in Bhiwandi, Maharashtra.

Image Source


Also read: Welspun logistics subsidiary to invest Rs 2,000 cr in warehousing

Also read: Avigna leases one million sq ft industrial warehouse in Tamil Nadu

A private equity real estate arm of The Xander Group Inc, Xander Investment Management, told the media that it had acquired one million sq ft additional warehousing space in the Free Trade and Warehousing Zone (FTWZ) at Sriperumbudur in Tamil Nadu. According to the sources, the value of the acquisition is about Rs 400 crore to Rs 500 crore. Xander Group already has one million sq ft of logistics space in FTWZ. This acquisition is a part of its $250 million industrial platforms, which will double its ownership in the park. The company has the first FTWZ in India and recently has been approved as a multi-sector special economic zone (SEZ). It offers Grade-A warehousing and industrial facilities to operators and manufacturers across the globe. The new occupiers are DHL, Kerry Indev, DB Schenker, TVS Supply Chain and Seaways Supply Chain. The spokesperson of Xander said that the company's expansion in FTWZ is because of strong tenant performance and demand from existing and new occupiers. The new units will push logistics and manufacturing sectors in the region with rapid economic development in Tamil Nadu. Chennai-Bengaluru Industrial Corridor (CBIC) is where the FTWZ is located. It connects Chennai, Ennore and Kamarajar Ports, which contains 20% of the country's traffic. The place is near the industrial zones, which are home to electronics and automobiles, Oragadam, Tiruvallur, Maraimalai Nagar and Kanchipuram. Xander has been increasing its warehousing platform. It also acquired 31 acres of logistics space in Bagnan, West Bengal, this year, which was its first investment in warehousing in eastern India. In this year, the company leased nearly 1.1 million sq ft of warehousing space to e-commerce companies, including Amazon India and Flipkart in Bhiwandi, Maharashtra. Image Source Also read: Welspun logistics subsidiary to invest Rs 2,000 cr in warehousing Also read: Avigna leases one million sq ft industrial warehouse in Tamil Nadu

Next Story
Infrastructure Urban

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group’s Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence’s long-term commitment to the Indian market and its support for the Indian Government’s Make in India initiative. The partnership’s current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the “Vulc..

Next Story
Infrastructure Urban

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company’s growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Next Story
Infrastructure Urban

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association’s industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States’ share of global activity below 15 per cent. Meanwhile, in..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?