The Ample Parks development platform, a joint venture between UK-based Actis and Mahindra Lifespaces, will establish its first project in India inside the Mahindra World City, 60 km south of Chennai. It will develop 2 million sq ft of Grade A industrial development that can offer plug-and-play facilities and ‘bespoke’ built to suit solutions to a diverse set of customers.

“We plan to invest nearly ₹800 crore to develop the project inside the Mahindra World city,” Akash Rastogi, CEO and Director at Ample Parks, told businessline. “We are also looking at Hosur, and other Tier-I cities like Bengaluru, Mumbai and Ahmedabad. We also want to look at opportunities in Tier-2 cities like Lucknow and Coimbatore,” he added.

Actis, a global investor in sustainable infrastructure, has raised $25 billion to invest in a better tomorrow. Mahindra Lifespaces is the real estate and infrastructure development arm of the Mahindra Group. Actis will help 67 per cent in the Chennai project and the balance will be held by Mahindra Lifespaces, said Rastogi. “We hope to commission the first phase of around 500,000 sq ft in 18 months,” he added.

Ample Parks aims to acquire and develop approximately 1.5 million square metres of greenfield and brownfield sites in key markets across India over the next few years with the aim of establishing itself as a leading industrial and logistics real estate solutions provider to global and local corporations, he said.

The ongoing decentralisation of manufacturing capacity from China, coupled with government initiatives such as Make In India and Production Linked Incentive scheme will immensely enhance manufacturing and logistics prospects in India, he said.

Raghvendra Chandak, Director, Real Estate at Actis, said the project located at a premier location will attract top-tier industrial occupiers, allowing them to benefit from the City’s infrastructure, good road network and skilled manpower. The Mahindra World City located off the Grand Southern Trunk road, is well connected by rail link, he added.

Established in 2002, Mahindra World City Chennai is India’s first integrated business city and corporate India’s first operational SEZ and is promoted by the Mahindra Group in partnership with Tamil Nadu Industrial Development Corporation (TIDCO), spanning over 1,500 acres and comprising of multi sector Special Economic Zones (SEZs) and a Domestic Tariff Area (DTA). It houses more than 67 blue chip companies including BMW, Capgemini, Infosys, Renault-Nissan and Fujitec. It has generated cumulative exports of more than ₹88,000 crores and direct employment for 40,000 people since its establishment, says information on the web.

“This is a great first step for Ample Parks to develop this project at a strategic location in the thriving industrial ecosystem in Chennai,” said Chandak. Actis has invested and committed circa $1.7 billion to Asia real estate. It has invested in industrial projects in many other countries, including China, South Korea and Vietnam, he added.

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