MitsubisihixLogicap

A Joint Venture Between Mitsibushi and Logicap is set to cater to the growing demand for E-commerce, and IT infrastructure in India

As India’s industrial market is on the rise, Mitsubishi and Logicap Capital have tapped into its growing power. The joint venture between Japanese real-estate giant, Mitsubishi and Logicap Capital backed by Singapore-based Rava Partners is all set to develop facilities across key industrial hubs in the country. This collaboration’s main aim is to support the growth of manufacturing and e-commerce.

Two Mega Plants in Play

This partnership will feature two warehouses developed by Pragati Warehouses, a Logicap-backed portfolio company. The plant is to be set up in the National Capital Region of Delhi. Region of India spread across 29 hectares in Gurugram, the facilities offer a combined area of 1.9 million square feet and are fully occupied.

Built between 2021 and 2022, these facilities cater to various industries, from traditional manufacturing to e-commerce. Why Pragati Warehouse? Pragati Warehouse has developed over 12 million square feet of Grade A sheds in India.

On this partnership, Pragati Warehouse Founder Jitendra Yadav said, “With the rapid expansion of India's manufacturing hubs and the surge in e-commerce, this collaboration with Rava Partners allows us to create world-class industrial and logistics facilities that meet the highest global standards.”

A Long-term Partnership

At the partnership announcement conference, the sentiment of long-term collaboration was echoed. Logicap and Mitsibushi Estate elaborated on their plans to build a pipeline of assets to support India's industrial growth. Logicap fund management head Priyank Shah stated, “We are excited to partner with a strategic investor such as MEC to grow out our portfolio to meet our target to acquire and build an additional 15 million square feet of capacity in the next year — doubling our current footprint."

Energized Indian Market

The joint venture comes amid increased interest in India's industrial market. Recently, Blackstone-backed Horizon Industrial Parks partnered with the Indian government to manage a portfolio of 13 last-mile logistics assets. London-based Actis also launched its logistics joint venture, Ample Parks, with Mahindra Group, aiming to acquire and develop 1.5 million square meters of sites in India.

As India’s industrial landscape continues to be at its zenith, partnerships like these will keep adding to its glory. With their combined expertise and resources, the partners are well-positioned to capitalize on the country's growing demand for world-class industrial facilities.