Xander doubles its warehousing space in Chennai’s FTWZ

Singapore-based Xander Investment Management on August 18 announced that its industrial platform has acquired an additional 1 million square feet of warehousing space in Free Trade and Warehousing Zone (FTWZ) located at Sriperumbudur, near Chennai.

Xander already owns 1 million square feet of warehouses in the FTWZ acquired over the last decade, and the new acquisition will immediately double its ownership in the park, said a press release.

Notified as the first FTWZ in the country, and recently approved as a multi-sector SEZ, the park provides Grade-A warehousing and industrial facilities to global operators and manufacturers.

“The expansion is fueled by strong tenant performance and enhanced demand from existing and new occupiers. The new facilities will provide a further thrust to the logistics and manufacturing sectors in the region and act as a catalyst for more rapid economic development in Tamil Nadu,” said a Xander spokesperson.