CapitaLand in talks to develop 3 million sq ft warehousing space near Gurugram
Singapore-based CapitaLand is in talks to develop a 3 million square feet of warehousing space in Sohna, near Gurgaon.
CapitaLand, one of Asia’s biggest real estate groups, possesses and oversees a worldwide portfolio worth almost $134.7 billion and is looking to grow its presence in northern India.
It is going to be a joint venture as the company is in talks with Mayar Group who owns 100 acre land in Sohna, where CapitaLand will develop and lease it. The expected investment will be around Rs 450 crore. Out of 180 acre land that Mayar Group had in Sohna, they have sold 80 acres to ESR and some global investors.
With its geographical advantage, Sohna is poised to become the largest distribution hub in the region.
Recently, the Haryana government allotted 180 acres of land near Gurgaon for Rs 550 crore to Amprex Innovative Ltd, a manufacturer of rechargeable lithium polymer batteries.
The state is focusing on monetizing more land for building warehousing and industrial hubs.