Logicap and Mitsubishi Estate Partner to Develop Industrial and Logistics Parks Across India

New Delhi / September 24, 2024: Logicap Management Pte. Ltd., a portfolio company of Rava Partners, announced its joint venture with Mitsubishi Estate (MEC) to develop modern industrial and logistics facilities across key industrial hubs in India. This collaboration represents a pivotal move in addressing India’s rapidly growing demand for state-of-the-art infrastructure solutions and marks a significant step in the expansion strategies of both companies, the company said in a press release. 

The seed portfolio includes facilities strategically located in the National Capital Region (NCR) of Delhi. Together, Logicap and MEC aim to build sustainable facilities that cater to the needs of both traditional industries and the fast-growing e-commerce and IT sectors, the statement added. 

The joint venture’s initial portfolio includes two large-scale facilities located in Gurgaon, Haryana, part of the NCR region. These projects are spread across a total site area of 29 hectares, offering a combined effective area of 179,000 square meters. Developed by Pragati Warehousing, a portfolio company of Logicap, these facilities are designed to support industries ranging from traditional manufacturing to e-commerce.

Col Jitender Yadav,  Founder Pragati Warehousing, stated, “With the rapid expansion of India’s manufacturing hubs and the surge in e-commerce, this collaboration with Rava Partners allows us to create world-class industrial and logistics facilities that meet the highest global standards. Our goal at Pragati Warehousing is to build a pan-India footprint, providing cutting-edge solutions that address both current market demands and the critical infrastructure challenges of the future. We are proud to be at the forefront of this transformation, delivering sustainable, Grade-A assets across India’s key industrial regions.” 

Priyank Shah Head of fund management Logicap Management Pte SG, stated, “We are excited to partner with a strategic investor such as MEC to grow out our portfolio to meet our target to acquire and build an additional 15 million square feet of capacity in the next year – doubling our current footprint.”