Welspun One Acquires 22-Acre Land in NCR with JLL as Transaction Partner

Welspun One plans to Invest Rs 125 Crore to enhance logistics infrastructure in the region

New Delhi / August 20, 2024: Welspun One, an integrated fund and development management platform, in partnership with JLL, a leading global real estate services firm, has announced the successful acquisition of a prime 22-acre site along the Bilaspur-Tauru Road in the Gurgaon/NH-08 corridor. This transaction facilitated by JLL, represents a significant milestone in Welspun One’s strategy to expand its logistics park footprint in India.

The acquired land, situated in India’s most active logistics sub-market, is recognized for its strategic importance. According to JLL, the Gurgaon/NH-08 corridor boasts a total supply of 64 million square feet for Grade A & B spaces as of H1 2024, positioning it as the largest logistics sub-market in India, followed by Bhiwandi in Mumbai. Gurgaon/NH-08 sub-market witnessed a gross absorption of 3.7 million square feet in H1 2024, almost doubling the absorption recorded during the same period in the previous year (H1 2023). This significant increase in absorption underscores the robust warehousing demand in the region.

“This land transaction is unique in the sense that it’s a long lease of aggregated land from multiple private landlords – an emerging transaction typology in the country i.e. lease over outright,” said Yogesh Shevade, Head – Logistics & Industrial, India, JLL.

The site is ideally positioned near existing major logistics parks, enhancing its appeal to tenants. Welspun One’s proposed development will complement the surrounding infrastructure, which includes notable tenants like leading 3rd party logistics players, e-commerce giants and retail players.

Anshul Singhal, Managing Director, Welspun One, stated, “This acquisition marks a significant step in expanding our footprint in one of India’s vital logistics corridors. By leveraging this prime location, we aim to create a cutting-edge logistics hub that will not only support our tenants’ operational efficiencies but also contribute to India’s broader economic growth. We are committed to developing world-class facilities that will enhance the region’s connectivity and drive industrial growth, further cementing our role in the nation’s logistics sector.“

Welspun One plans to invest Rs 125 crore in this Bilaspur-Tauru Road project, which is expected to generate employment for 1200-1500 people. The project aligns with the company’s vision to create state-of-the-art logistics and warehousing facilities that cater to the diverse and evolving needs of businesses across various industries.