Sunday, Nov 27 2022 | Time 03:46 Hrs(IST)
Business Economy

Mahindra Lifespaces forms JV with Actis

Mumbai, Oct 6 (UNI) Mahindra Lifespace Developers Ltd, the real estate and infrastructure development arm of the Mahindra Group, on Thursday said it has entered into an agreement with Actis, a leading global investor in sustainable infrastructure, to establish a Joint Venture Platform for developing industrial and logistics real estate facilities across India.
Up to 100 acres of land with ready infrastructure in the two Mahindra World Cities, offering a built-up potential of over two million square feet, has been earmarked as seed sites to be acquired and developed by the Joint Venture Platform over time, subject to requisite approvals.
The joint venture will also simultaneously acquire and develop other greenfield and brownfield sites in key markets across India, aiming to become a leading real estate solutions provider to global and local corporations.
The total investment in the business over the initial years, including debt, is estimated to be Rs 2,200 crore.
Actis will own a majority stake, and Mahindra Lifespaces will have a significant minority. Industrial and warehousing have emerged as a high-growth real estate asset class buoyed by rising consumer demand and accelerating manufacturing investment.
Arvind Subramanian, Managing Director and CEO, Mahindra Lifespaces, said: “We are witnessing strong and accelerating demand for Grade A warehousing and manufacturing facilities from both multinational and Indian clients.
"With our experience in building and operating thriving integrated cities and industrial parks and our ready-to-market plug-and-play infrastructure in Mahindra World Cities in Chennai and Jaipur, we are well-positioned to cater to this demand."
More News

Tata Tele Business Services to provide WhatsApp Business Platform through Smartflo Cloud Communication Suite

26 Nov 2022 | 9:04 PM

Pune, Nov 26 (UNI) Tata Tele Business Services (TTBS), one of the country’s leading enablers of connectivity and communication solutions for businesses, has announced the strategic expansion of its cloud communication suite Smartflo with WhatsApp Business Platform.

see more..

Kottayam-Kochi Rubber Market Rates

26 Nov 2022 | 5:47 PM

Kottayam, Nov 26 (UNI) Following were the Rubber Market rates announced by the Rubber Board here Saturday per quintal
RSS FOUR: 14550
RSS FIVE : 14250
RSS FOUR : 14550
RSS FIVE : 14250

see more..

UP eyes big investment from US cos during GIS-23

26 Nov 2022 | 4:30 PM

Lucknow, Nov 26 (UNI) Through the Global Investors Summit-2023 Uttar Pradesh is expected to receive huge investment from America in nine sectors including Information and Technology (IT) and agriculture sectors.

see more..

Union AMC launches of Union Multicap Fund

26 Nov 2022 | 4:04 PM

Chennai, Nov 26 (UNI) Union AMC today announced the launch of
Union Multicap Fund, an open-ended equity scheme which aims to
provide capital appreciation by investing in equity and equity-related
securities across market capitalization in a disciplined manner.

see more..

AP : Three-member FUEL delegation visits Sri City

26 Nov 2022 | 3:39 PM

Sri City, Nov 26 (UNI) A three member delegation from Friends Union for Energizing Lives (FUEL), a non-profit organisation with the goal of giving the country's youth access to crucial information about career opportunities, paid a visit to Sri City in Andhra Pradesh.

see more..