ProLogis rnakes entry through JV with K Raheja

The logistics sector is set to get a major boost with ProLogis the world's largest logistic and warehousing developer having made an entry into India through a 50:50 joint venture with leading real estate developer, K Rajeha Corp, for the development of warehousing and logistic Infrastructure in the country. The JV intends to invest around Rs 2300 crore over the next 3 years for acquisition of land, development of properties and management of assets.

The venture will initially focus on securing development opportunities in the cities Mumbai, Chennai, Delhi, Bangalore, Kolkata, and Pune which are among the fastest growing locations for distribution operations in India. It is expected to develop 7.5 million sq. ft. in the next 3 years and a total of 25 million sq. ft. with the next 5 years.

The logistics sector is set to get a major boost with ProLogis - the work's largest logistic and warehousing developer having made an entry into India through a 50:50 joint venture with leading real estate developer, K Raheja Corp, for the development of warehousing and logistic Infrastructure in the country.

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