Private Equity

PE-RE Fund Investments

Actis-Mahindra Lifespaces JV to invest Rs.800-Cr to develop Chennai property

Business Line  

The Ample Parks development platform, a joint venture between UK-based Actis and Mahindra Lifespaces, will set up its first project in India inside the Mahindra World City, 60 km south of Chennai. It plans to invest INR 800 crore to 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. Actis, a global investor in sustainable infrastructure, will have 67% in the Chennai project and the balance will be held by Mahindra Lifespaces. The JV plans to commission the first phase of around 500,000 sq ft in 18 months.The firm is also looking at Hosur, Bengaluru, Mumbai and Ahmedabad besides scanning opportunities in Lucknow and Coimbatore.