Xander Acquires One Million Sq. Ft. in Chennai Free Trade Warehousing Zone
·
Acquisition doubles Xander’s ownership in Chennai FTWZ
to 2 million square feet
· New facilities to be ready for occupation in Q4 2021 onwards
Singapore-based Xander Investment Management (“Xander”) today announced that its industrial platform has acquired an additional 1 million square feet of warehousing space in Free Trade and Warehousing Zone (“FTWZ”) located at Sriperumbudur, near Chennai, Tamil Nadu. Xander already owns 1 million square feet of warehouses in the FTWZ acquired over the last decade, and the new acquisition will immediately double its ownership in the park to 2 million square feet.
Notified
as the first FTWZ in India, and recently approved as a Multi-Sector
SEZ, the park provides Grade-A warehousing and industrial facilities
to global operators and manufacturers. Current occupiers include
companies like DHL, DB Schenker, Kerry Indev, TVS Supply Chain and
Seaways Supply Chain
“The expansion in JMFTZ is fueled by strong tenant performance and enhanced demand from existing and new occupiers. The new facilities will provide a further thrust to the logistics and manufacturing sectors in the region and act as a catalyst for more rapid economic development in Tamil Nadu. We are leveraging our expertise and knowledge to design best in class industrial/ logistics infrastructure with an emphasis on ESG and sustainability,” said a Xander spokesperson.
The
FTWZ is strategically located on the high growth Chennai-Bengaluru
Industrial Corridor (CBIC) with excellent connectivity to Chennai,
Ennore
and Kamrajar Ports, which together account for ~20% of container
traffic in India. It is also in close proximity to major industrial
belts like Oragadam. Maraimalai Nagar, Tiruvallur and Kanchipuram, which
are home to a large number of electronics and auto/auto
ancillary companies.
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