Mahindra Lifespace & Actis Launch Ample Parks JV: Massive 70-Acre Industrial & Logistics Park Coming to Chennai!

New Delhi: Real estate firm Mahindra Lifespace Developers Ltd has partnered with Actis, a leading global investor in sustainable infrastructure, to form a joint venture called ‘Ample Parks.’ The purpose of this joint venture is to develop industrial and logistics parks across India. Their first project will be a significant 70-acre development in Chennai.

Ample Parks’ Ambitious Development Goals

According to a statement from the company, Ample Parks aims to acquire and develop approximately 1.5 million square meters of both greenfield and brownfield sites in key markets throughout India over the coming years. The venture is positioned to become a leading provider of industrial and logistics real estate solutions for both global and local companies.

Joint Venture Stake Distribution and Leadership

In this joint venture, Actis holds a majority stake, while Mahindra Lifespaces retains a significant minority stake. The platform has been established with a highly experienced management team. Akash Rastogi has been appointed as the Chief Executive Officer (CEO) to lead the new venture.

First Project in Chennai

The joint venture has already made its first acquisition: a prime 70-acre industrial land parcel within Mahindra World City, Chennai. This site will be developed into an integrated industrial and logistics park, featuring institutional-grade buildings and facilities. The company’s statement highlights that this acquisition and subsequent development mark an important step in their broader strategic goals.

Commitment to Sustainable Industrial Infrastructure

Amit Sinha, Managing Director and Chief Executive Officer at Mahindra Lifespaces, expressed that the launch of Ample Parks is a significant milestone. He emphasized the company’s commitment to developing sustainable and world-class industrial infrastructure in India.

According to Sinha, this initiative aligns with Mahindra Lifespaces’ broader mission to contribute to India’s industrial growth and infrastructure development.

Mahindra Lifespace’s Extensive Development Portfolio

Mahindra Lifespace’s development footprint includes 37.95 million square feet of completed, ongoing, and upcoming residential projects spread across seven Indian cities. Additionally, the company manages over 5,000 acres of ongoing and planned projects in integrated developments and industrial clusters at four different locations.

This extensive portfolio underscores the company’s capability and expertise in handling large-scale projects, positioning them as a significant player in the Indian real estate market.