“The accretive acquisition will not only add a modern, high-specs and green property to our portfolio, but also expand our network presence in India from Pune and Delhi to a new market in Mumbai. This positions us well to support our customers’ growing logistics space requirements as they expand regionally,” she adds.
Mapletree Logistics Trust (MLT) is proposing to acquire a freehold, newly-built Grade A warehouse in Bhiwandi, Mumbai, Maharashtra, India at a property purchase price of INR3.89 billion ($53.6 million). The warehouse is purchased through the acquisitions of an investment holding company and a property holding company from unrelated third parties, says the REIT manager in a March 21 release.
“India is fast becoming a preferred warehousing destination in Asia, fuelled by its rising middle class, growing domestic consumption and key role in the realignment of global supply network,” says Jean Kam, CEO of the manager.
