The joint venture between global infrastructure and energy investor Actis and real estate firm Mahindra Lifespace Developers Ltd, Ample Parks wishes to invest around Rs.800 crore to develop an integrated industrial and logistics park with institutional grade buildings in Chennai.
For doing this they have acquired a premium 70-acre industrial land parcel at Mahindra World City, in the total amount 30% is reserved for land acquisition. Actis has planned to own 67% and the remaining part will be vested for Mahindra Lifespaces.
About this new venture, the partner, head of Real Estate at Actis Brian Chinappi said, “I’m delighted to see Ample Parks get off the ground with this first acquisition. India’s industrial and logistics sector represents a tremendous investment opportunity, with the country’s market strongly benefitting from a boom in consumer demand domestically and a realignment of supply chains globally in favour of India, with many corporations implementing a China Plus One strategy. By bringing together Actis’ track record in sustainable real estate and Mahindra Lifespaces’ broader market expertise, Ample Parks is set to become a key player in this space, capitalizing on the growth of this new economy real estate for our investors.”
This project of Chennai is targeting to attract elite class or high income group including top-tier industrial occupiers and the company is offering them Mahindra World City’s infrastructure, accessibility and skilled manpower availability.
The project is located in a strategic position in India’s first integrated business city, with excellent road, rail and port connectivity as well as support and social infrastructure. Ample Parks plans to develop 15-17 projects in Tier-1 and Tier-2 cities, including Mumbai, Pune, Bengaluru, NCR, Lucknow, Guwahati, Nagpur, and Ahmedabad, over the next five to seven years. Ownership will differ by project, but Actis will retain a majority stake in each one.
The platform is supported by a highly experienced management team, led by Chief Executive Officer and Director Akash Rastogi. Ample Parks plans to acquire and develop around 1.5 million square meters of greenfield and brownfield sites in key markets across India in the coming years. The goal is to position itself as a leading provider of industrial and logistics real estate solutions for both global and local corporations.
Akash Rastogi expressed excitement about launching in Chennai, citing it as a prime industrial site. He noted that the shift from China and initiatives like ‘Make In India’ and the ‘Production Linked Incentive (PLI) scheme’ will boost India's manufacturing and logistics. The first project will offer 2 million square feet of Grade A industrial space with both plug-and-play and custom solutions, emphasizing sustainability and scalability.The managing director and chief executive officer at Mahindra Lifespaces, Amit Sinha told, “The launch of Ample Parks marks a significant milestone in our commitment to developing sustainable and world-class industrial infrastructure in India. By combining Actis' global expertise with our deep understanding of the Indian market, we are poised to create a transformative platform to meet the evolving needs of businesses. This initiative fits well into the state-of-the-art facilities within an already established, self-contained ecosystem. We are excited about the potential of Ample Parks for not only building on the success of Mahindra World City, but also contributing significantly to India's broader industrial and logistics landscape.”
The director, Real Estate at Actis, Raghvendra Chandak told the Chennai project a key first step for Ample Parks. He aims for the platform to become a top provider of industrial and warehousing space in India, with a strong management team to drive growth and enhance industrial infrastructure.
Additionally, the report says, Actis is holding the majority of stake in the joint venture. Since the beginning, Actis is committed around $1.7 billion to Asia real estate.
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