Mahindra Lifespace-Actis to create Rs.2,200-Cr warehousing space investment platform

Publicly listed realty firm Mahindra Lifespace Developers Ltd (MLDL) has formed a joint venture with UK-headquartered Private Equity investor Actis to develop industrial and logistics real estate facilities with an investment of INR 2,200 crore (including debt). Actis will own a majority stake in the platform. 100 acres of land across two Mahindra World Cities (in Chennai and Jaipur) have been earmarked as seed assets to be acquired by the SPVs to be created by the JV. The JV will also expand the business by acquiring and developing greenfield and brownfield projects across India.