FM Logistic India’s realty arm Batilogistic has purchased 30 acres of land in Mumbai region from Lodha Developers for Rs 106 crore to develop a warehousing project.
Batilogistic and Lodha sign a deal of INR 106 Cr to develop 30 acres land parcel at Palava Industrial and Logistics Park for FM Logistic India, with a total development potential of around 1 million square feet of warehousing space.
This agreement is strategically signed to catalyse the job market in the region. Further expanding FM Logistic India’s businesses, Batilogistic will undertake the development of this land parcel in phases over the next 3-4 years. This development is part of the 290 acre Palava Industrial and Logistics Park that also includes a joint venture between ESR and Lodha.
Batilogistic, the real estate sister company of FM Logistic, has global expertise in the construction and maintenance of state-of-the-art Grade A warehouses. All warehouses constructed by Batilogistic are LEED-certified and FM Global certified thus, facilitating optimal operational, environmental, and cost efficiencies.
Palava Industrial and Logistics Park is now emerging as a world-class hub in the Mumbai region driven by its high-quality infrastructure, well-planned parks, and proximity to Navi Mumbai, JNPT port, and upcoming international airport. Also, the park benefits from its easy connectivity to the full social eco-system of Palava City. The park offers a range of options including built-to-suit structures, standard structures, and land parcels.
Commenting on the deal, Alexandre Amine Soufiani, MD – FM Logistic India, expressed, “We are committed to providing our customers with high value and high-efficiency Grade A
warehousing infrastructure. Globally, FM Logistic, in collaboration with Batilogistic, is a pioneer in developing and maintaining Grade A warehousing facilities that provide cutting-edge supply chain technologies to our customers. Through our association with the Lodha Group, we will gain a significant presence to service the neighboring industrial areas of Thane, Navi Mumbai and Kalyan. The Grade A logistic facility will be designed according to the best industry standards with high spec buildings, 100% compliance to norms, and stringent safety standards. This state-of-the-art facility will further enable us to provide our collaborators with a safe and healthy working environment as their safety, health, and well-being is one of our top-most priorities. The logistic park will provide for sustainable use of resources – another feature why we chose to associate with this project. The said project advocates the use of green sources of energy. Solar panels will be installed for the generation of clean electricity and the necessary infrastructure is in place to facilitate rainwater harvesting and the charging of electric trucks. FM Logistic India and the Lodha Group, both, share a strong sense of commitment towards customers, focus on innovation and operational excellence. This alliance was further spurred by the transparency, visibility, and the thorough processes that the Lodha Group demonstrated for the development.”
Shaishav Dharia, CEO, Townships and Rental Assets, Lodha, said, “We are very pleased to have the Group choose Palava Industrial and Logistics Park to develop one of the largest warehousing projects in India. With this partnership, we look forward to enhance the infrastructure and ecosystem for logistics and industrial set-ups in the region. Our association will go a long way towards achieving our vision of developing an industrial city and enhancing the economy and jobs at Palava.”
There is a need for grade-A warehousing, where consumers are looking for state-of-the-art fulfilment centres that are able to cater to the needs of various businesses, reduce delivery times, and use tech to enable cost efficiencies that can help brands to scale the growing demand of goods across India. The MMR region is the second-largest Grade A warehousing hub in India as of 2019. Amongst all the primary industrial regions within MMR, Palava has developed as one of the preferred locations for logistics and value-added industries with the upcoming ~ 800 acre logistic and industrial park.
ALSO READ: Redfin Predicts Five Ways Housing Market Will Change Post Pandemic
