Mahindra Lifespace and Actis Launch 'Ample Parks' JV for Industrial and Logistics Parks

Mahindra Lifespace Developers Ltd and Actis have joined forces to create 'Ample Parks,' a platform aimed at developing industrial and logistics parks. Their first project, a 70-acre development, will be constructed in Chennai. The JV plans to expand across India, targeting 1.5 million square meters of greenfield and brownfield sites.

In a strategic move, real estate giant Mahindra Lifespace Developers Ltd and leading global investor Actis have joined hands to launch 'Ample Parks,' a joint venture aimed at developing state-of-the-art industrial and logistics parks across India. The new platform will initiate its first project on a sprawling 70-acre site in Chennai.

According to a company statement, the joint venture intends to acquire and develop approximately 1.5 million square meters of greenfield and brownfield sites in key Indian markets over the coming years. Both companies aim to establish Ample Parks as the top provider of industrial and logistics real estate solutions for both global and local corporates.

Holding a majority stake in the partnership, Actis collaborates with Mahindra Lifespaces, which holds a significant minority stake. The JV's leadership includes a seasoned management team, headed by Chief Executive Officer Akash Rastogi. Their inaugural acquisition consists of a prime 70-acre industrial land parcel in Mahindra World City, Chennai, intended to house an integrated industrial and logistics park. Amit Sinha, Managing Director and CEO of Mahindra Lifespaces, hailed the launch as a major milestone in India's industrial development landscape.

(With inputs from agencies.)