The property, which is sited on a land area of 51,446 sqm, is located in prime warehousing submarket some 25km from Delhi and 7km from the KMP Highway. It is also located 21km from the country’s National Highway 48, which provides access to Delhi, Gurugram and other major cities including Mumbai and Ahmedabad. It has 38 years remaining on its land lease till December 2061.
The manager of Mapletree Logistics Trust (SGX:M44U
) (MLT) is proposing to acquire a modern Grade A warehouse in Farukhnagar, Delhi national capital region (NCR), India. The REIT manager is looking to acquire the property for INR900 million ($14.5 million).
The proposed acquisition will deepen MLT’s footprint in India, which is currently the fifth largest economy in the world. The Indian economy is expected to grow by over 6% in 2023 and 2024; the country is poised to be a key driver of Asian and global growth, says MLT. Delhi, which is the largest metropolitan area in India, achieved a GDP growth of 9.2% and per capita income growth of 7.5% in 2022, higher than the national average.
