Welspun One Logistics Parks (WOLP), an asset management and development platform, has acquired 40-acres land on the Malur-Hosur Road near Bangalore, to set up a large-scale warehousing facility.
With a development potential of around 1 million sq ft and a total project cost of Rs 300 crore, the facility around 25-km away from Outer Ring Road will service the Bengaluru Metropolitan region’s (BMR’s) industrial and warehousing demand for space.
“South India has always been an important market for us, and this is a crucial first step towards building a presence in the region by developing logistics infrastructure. WOLP has made significant progress in supporting the county’s warehousing network in a short span of time – from our flagship park in Bhiwandi, Maharashtra to the more recent acquisitions in Farukhnagar, Haryana and Lucknow, Uttar Pradesh,” said B.K. Goenka, Chairman, Welspun Group.
According to him. this land acquisition will deepen the fund’s portfolio as well as strengthen the company’s vision of being a pan-India warehousing player.
The proposed project will be among the few warehousing facilities owned and managed by institutional developers in Bangalore that are marked with limited supply of the grade A logistics space. The demand for warehousing across key cities in India have witnessed a significant uptick on the back of the post Covid19 e-commerce boom.
“The land by virtue of being easily accessible via the Sarjapur road is located close to the residential and IT catchments of South-East Bengaluru. It also has the added advantage of benefitting from the well-established industrial ecosystem in Hosur. Our efforts to build top class warehousing facilities in this region will greatly benefit occupiers including E-commerce/3PL/end users along with industrial and engineering companies with operations in the state,” said Anshul Singhal, MD, Welspun One Logistics Parks.
