Home / Knowledge / News / ProLogis enters into JV partnership with K Raheja Corp
ProLogis enters into JV partnership with K Raheja Corp
09
Apr '08
ProLogis the world's largest owner, manager and developer of distribution facilities, announced that it has entered the market in India through a 50/50 development joint venture agreement with K Raheja Corp, one of the largest real estate developers in India.

"We are very pleased to announce our new joint venture agreement with K Raheja Corp," said Jeff Schwartz, chairman and chief executive officer of ProLogis.

"Over the last few years, ProLogis has achieved tremendous success in Asia following the establishment of operations in Japan, China and South Korea. Launching development in India, one of Asia's most vibrant growth markets, is a logical next step and one that we believe will create real value for our shareholders and provide reliable access to new warehouse space for our global customers."

Under the terms of the agreement, the joint venture will acquire land, develop properties and manage the assets and will initially focus on securing development opportunities in the cities of Mumbai, Chennai, Delhi, Bengaluru, Kolkata, and Pune -- which are among the fastest growing locations for distribution operations in India.

The JV already has acquired 27 acres of land in Loni near Pune and is in advanced stages of land acquisition in other key markets, including 140 acres in Bengaluru; 120 acres in Chennai; 99 acres in Kolkata; 70 acres in Mumbai; and an additional 33 acres in Pune. Overall, the JV expects to develop approximately 7.5 million square feet over the next three years and about 25 million square feet over the next five years. The JV plans to invest approximately $575 million (2,300 crores rupees) over the next three years.

Must ReadView All

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search