AA Holdings, an industrial and warehousing development and funding firm held by Abhijit Verma, and Avinya Industrial and Logistic Park, a logistic development company, announced a strategic partnership to empower small landlords and aggregators across the country by developing warehousing infrastructure.
Both organisations plan to jointly develop 20 million square feet of land parcels across the country in the next three years, said the company.
“India is the fastest growing warehousing market in the world propelled by the rapid growth of e-commerce, the introduction of the Goods and Services Tax, and the improvement in road infrastructure. Through this new venture, we aim to be a catalyst and leverage their grassroots knowledge to help them emerge as developers by imparting the right business acumen, helping them connect with clients, and guide them in the best use of their assets,” said Abhijit Verma, Managing Director, AA Holdings.
According to the company, since 2011, the demand for industrial and warehousing properties has gone up due to the entrance of multinational corporations. Despite being the seventh largest landmass in the world, India’s per capita warehousing stock stands at just 0.02 square metre as compared to that of the US), China and the UK which have 4.4 square metre, 0.8 square metre and 1.09 square metre respectively, according to property consultant Knight Frank.
“As the fastest growing economy in the world, India needs to rapidly build the supporting infrastructure in order to sustain the growth and this growth will be premised on the development of quality warehousing infrastructure across the country,” Verma added.
AA Holdings is an industrial and warehousing consulting firm that aims to identify and enable local landlords and aggregators to acquire necessary skill sets and knowledge to attractclients and invest in the right kinds of assets. The company plans to develop over 10 million sq ft in five years across micro markets in the country.