Welspun One Logistics Parks to add 3.2 MN SF of Modern Warehouse Space in India
Launches flagship project to service India’s largest consumption centre
MUMBAI, INDIA--(Business Wire / Korea Newswire) July 09, 2020 -- Welspun One Logistics Parks (WOLP) has announced the launch of its flagship 110-acre, 120 MN Grade A warehousing park in Bhiwandi, to service India’s largest consumption centre- Mumbai Metropolitan Region (MMR), with a population of 26 MN that has the country’s highest per capita income.
The park is designed to global standards and international Green Building Certification requirements and is one of India’s first logistics parks equipped for COVID-19. It’s the first park to be developed by a global conglomerate - the USD 2.7 BN Welspun Group. The development comes at a time of accelerated adoption of e-commerce in a country that has approx. 575 MN active internet users.
Mr. BK Goenka, Chairman, Welspun Group, says, “This project has cemented our focus in the warehousing sector. We view this as one of the only asset classes in the current context, which provides both attractive development returns and stable long-term yields. As India works towards its target of becoming a USD 5TN economy, logistics will play a crucial part. Warehousing, owing to favorable demand and supply dynamics with mature policy initiatives including a nationwide tax system and 100% FDI allowance is primed for growth.”
“Our focus is to develop digitized, Grade A, warehouses that are equipped to solve our customers’ dynamic needs. India has under 90 MN SF of modern warehousing space. Our Bhiwandi project is adding another 3.2 MN SF and marks our first step towards ushering the future of warehousing in a post-COVID-19 India”, mentions Anshul Singhal, MD, WOLP. He adds, “We are excited by the launch of our marquee project; which along with the backing of the Welspun Group and a best-in-class team has spurred significant interest from international and private equity investors, both at the project and overall platform level.”
Welspun One Logistics Parks (WOLP) is an integrated fund, asset, and, development management organization; designed to deliver, institutional Grade A logistics parks across India. WOLP’s dedicated team has the right mix of institutional finesse and a nuanced local approach to execute IoT enabled, multistory warehouses; targeted at various industry verticals such as e-commerce, 3pl companies, and, auto & auto ancillary. For further details, visit www.welspunone.com
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