Lodha Venture Acquires Land For The Development of Urban Warehousing Infrastructure in Kurla, Mumbai.

Lodha Group, Bain Capital, and Ivanhoe Cambridge-backed Lodha Green Digital Infrastructure (LGDI) have acquired roughly 8 acres of land in the Mumbai neighbourhood of Kurla.

The land will be used for the building of a Grade-A multi-tenant in-city fulfilment facility that will provide the last-mile warehouse infrastructure to third-party logistics (3PL), ecommerce, and quick-commerce businesses.

On the Kurla property, about 400,000 square feet of Class A retail space will be constructed.

It is projected that the project would be completed in phases over the following 12 to 18 months at a cost of around 330 billion INR.Listed as Macrotech Developers, Lodha partnered with Bain Capital and Ivanhoé Cambridge to build a green digital platform earlier this year. The purpose of building this infrastructure platform is to have a pan-Indian presence in the realm of digital infrastructure, including logistics and light industrial parks and in-city fulfilment centres.

The platform has pledged $1 billion for the development of 30 million square feet of operational assets for the digital economy.

According to Shaishav Dharia, director of Lodha Green Digital Infrastructure, this would be the first substantial institutional investment in a "in-city logistics asset" in Mumbai. "We are dedicated to contributing considerable knowledge in this asset class and committed resources to support the growth of this platform."We are devoted to constructing industrial and logistics parks, as well as in-city logistics assets, across many cities in India, since there is a great need for high-quality digital infrastructure in our country.

According to him, such advances will boost logistical efficiency and provide job opportunities across the country.In order to establish a global norm, the organisation will focus on creating and operating this digital infrastructure with the highest environmental sustainability standards.

This is the second property that the platform has purchased in Mumbai, and it plans to purchase more properties in the city and in other key consumer and manufacturing locations in India.

The original project was the construction of a 110-acre logistics and industrial park in Palava, a location with a developed digital infrastructure in MMR.