Ample Parks, a joint venture (JV) between Mahindra Lifespace Developers Ltd and private equity firm Actis on 5 August announced that they have acquired a 70 acre land parcel in Chennai. 

The land is located at the Mahindra World City in Chennai and will be developed into an integrated industrial and logistics park. 

Raghvendra Chandak, director of real estate at Actis, said, “This is a great first step for Ample Parks to develop this project at a strategic location in the thriving industrial ecosystem in Chennai.”

This joint venture between Mahindra Life and Actis was first announced back in 2022 with an aim to develop more than 16 million square feet in both greenfield and brownfield developments. 

Raghvendra Chandak added, “Our aspiration is for the platform to become one of the industrial and warehousing space providers of choice in India, with solutions tailored to meet the needs of industrial customers and supply chain operators.” 

Actis holds the commanding stake in the JV and has invested around $1.7 billion in real estate assets in Asia. 

Ample Parks announced that their inaugural project will create approximately 2 million square feet of industrial development space. This space will offer flexible options for businesses, including both plug-and-play facilities and custom-built (“bespoke”) solutions tailored to specific customer requirements.

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