Welspun One announces 900 CR, 110-acre Logistic Park in Bhiwandi, Maharashtra
Designed to global standards and Green Building Certification requirements, the project is positioned to become a key asset in the hub of Mumbai’s warehousing market
Welspun One Logistics Parks (WOLP) has launched its maiden 110 acre Grade A warehousing park with a leasable area of 3.2 MN SFT and an estimated investment of INR 900 CR (USD 120 MN) in Bhiwandi- a key warehousing market in Mumbai Metropolitan Region (MMR), India’s largest consumption centre.
India wide release: Welspun One’s maiden project is located on a prime, irreplaceable and contiguous land parcel with clear legal title, fully owned by the Welspun Group promoters. The 110 acre project in Bhiwandi entails an estimated investment of INR 900 CR (USD 120 MN) and has a potential leasable area of approximately 3.2 MM SFT. The project is slated to be one of India’s first logistics parks to be developed by a global conglomerate– the Welspun Group; providing customers with the ease of operating, expandability and similar one-stakeholder advantages.
Welspun One has also entered into an MoU with the State Government of Maharashtra under the Magnetic Maharashtra Initiative for this project, which is in advanced stages of receiving necessary approvals under the Integrated Logistics Parks (ILP) policy of the State of Maharashtra; making it one the first of its kind fully compliant projects in Bhiwandi. This development will create an upwards of 2700 multi-level job opportunities.
Designed to global standards and Green Building Certification requirements, the project is positioned to become a key asset in the hub of Mumbai’s warehousing market. By pioneering innovative infrastructure and embracing best-in-class norms, this development is acclaimed to be one of India’s first logistics parks that is equipped for COVID-19 and other such events that could affect park operations. With pre-construction planning and design already in place, the park will be operational by Q4 of 2021.
“We are very excited to announce our marquee project in Bhiwandi, which has an excellent demand-supply dynamics due to robust demand, limited supply and low vacancy. Our 110 acre warehousing development project will be a prime addition to the area. This development has further cemented our focus in the warehousing sector. We are optimistic and view this as one of the only asset classes, especially in the current context, which provides both attractive development returns and stable long-term yields." mentions Mr. B.K. Goenka, Chairman, Welspun Group.
Echoing the sentiment, Mr. Anshul Singhal, Managing Director, Welspun One says, “We have a customer-first approach in everything we do. Owing to our clear understanding of our customers’ dynamically evolving logistical needs, our park in Bhiwandi is well suited to meet the requirements of a large number of end users including e-commerce, 3PL, FMCG/FMCD, modern retail, pharma and thus far has been very well received by large occupiers. We are also seeing significant interest from international and private equity investors, both at the project and overall platform level; due to the fact that we are launching our first project in a short span of time since inception while parallelly building a robust team that can deliver Grade A projects across India.”
Anshul Singhal - MD of Welspun One.