Welspun One Logistics Parks (WOLP) on Wednesday announced the launch of its flagship 110-acre, 3.2 mn sq ft Grade A warehousing park in Bhiwandi. The new flagship project is aimed to service India’s largest consumption centre Mumbai Metropolitan Region (MMR).
This warehousing park is the first to be developed by the USD 2.7 bn Welspun Group and is one of India’s first logistics park equipped for COVID-19. It’s designed to global standards and international Green Building Certification requirements. The development comes at a time of accelerated adoption of e-commerce in a country that has approx. 575 mn active internet users.
“This project has cemented our focus in the warehousing sector. We view this as one of the only asset classes in the current context, which provides both attractive development returns and stable long-term yields. As India works towards its target of becoming a USD 5 trillion economy, logistics will play a crucial part. Warehousing, owing to favorable demand and supply dynamics with mature policy initiatives including a nationwide tax system and 100% FDI allowance is primed for growth.”~ Mr. BK Goenka, Chairman, Welspun Group
With the implementation of GST along with the infrastructure status tag of the logistics industry, the need and necessity for better and larger warehouse has increased and is expected to move in an upward trend in the upcoming years.
“Our focus is to develop digitized, Grade A warehouses that are equipped to solve our customers’ dynamic needs. India has under 90 million sq ft of modern warehousing space. Our Bhiwandi project is adding another 3.2 million sq ft and marks our first step towards ushering the future of warehousing in a post-COVID-19 India.”~ Anshul Singhal, MD, WOLP
He adds, “We are excited by the launch of our marquee project; which along with the backing of the Welspun Group and a best-in-class team has spurred significant interest from international and private equity investors, both at the project and overall platform level.”
Welspun One logistics Parks (WOLP) is an industrial real estate platform, that seeks to provide an integrated investment, asset, and development management solution focused on the logistics & warehousing sector in India.
It was in December last year when Welspun Group acquired a majority stake in One Industrial Spaces for an undisclosed amount. This marked Welspun’s entry into the industrial warehousing market.