Asia Pacific logistics real estate major LOGOS and its venture partner Ivanhoe Cambridge have acquired a 77-acre industrial land parcel in Pune’s Chakan industrial area to develop a large-scale logistics park. The logistics venture will invest Rs 650 crore in the project.
LOGOS is planning to commence work on the project in August 2023 and expects to spread the phased development over three years. The land parcel is located in the MIDC industrial and logistics site within the Chakan Industrial area, which houses more than 1,000 manufacturing enterprises in the electronics and electrical vehicles (EV) sectors.
At present, LOGOS has a total four logistics parks with a gross leasable area of 5.7 million sq. ft. across Bengaluru, Chennai, and the National Capital Region (NCR), with a completed investment of Rs 1,700 crore for the development of these properties.