Logicap and Mitsubishi Estate Expand JV for Industrial and Logistics Development in India
Logicap Management and Mitsubishi Estate Co. have extended their joint venture to develop an additional 3.5 million sq ft of industrial and logistics infrastructure in India, focusing on key markets like Chennai, Mumbai, and Delhi-NCR.
Industrial DevelopmentLogistics InfrastructureJoint VentureReal Estate InvestmentHighquality LogisticsReal Estate NewsMay 18, 2025
The new investment marks a significant expansion of the two companies’ partnership and underscores growing international investor confidence in India’s rapidly evolving logistics landscape. Logicap Management, a portfolio company of Singapore-based Rava Partners, and Mitsubishi Estate Co. (MEC), a major real estate company from Japan, have been working together to develop modern industrial and logistics facilities across India.
Priyank Shah, head of fund management at Logicap, commented, “This strengthened partnership with Mitsubishi Estate reflects the strong strategic alignment between our organizations and our shared long-term vision for India’s infrastructure landscape. As global capital increasingly looks to India, our goal is to continue delivering high-quality, sustainable infrastructure at scale.”
The new investment builds on Logicap and Mitsubishi Estate’s existing portfolio of stabilized, fully leased assets in Delhi-NCR, developed through Pragati Warehousing, Logicap’s development platform. It signals a broader commitment to developing grade A, institutional-quality assets across key markets such as Mumbai, Delhi, Pune, Chennai, and Bengaluru.
While Mitsubishi’s earlier investment was for ready assets, this time the fund infusion is for under-development assets, indicating the confidence in India's long-term potential and the developer’s execution capabilities. The latest investment includes a joint venture for around 3.5 million sq ft developments in the strategic locations of Chennai—Sriperumbudur and Mapeddu—suitable for manufacturing tenants.
The joint venture’s initial portfolio included two large-scale facilities located in Gurgaon, Haryana, part of the NCR region. These projects are spread across a total site area of 29 hectares, with a combined effective area of over 1.9 million sq ft. With the new investment, the joint venture’s portfolio will move up to nearly 5.5 million sq ft, comprising ready assets acquired in September in NCR and the new development projects that are likely to be operational by next year.
Together, these assets are central to Logicap’s plan to develop a 13.5 million sq ft pan-India portfolio, with a focus on high-growth corridors such as Mumbai, Pune, Chennai, Bengaluru, and Delhi-NCR. India’s industrial and logistics sector is experiencing rapid growth, driven by the country’s burgeoning economy, population growth, and increased demand for efficient infrastructure. By 2025, India is expected to become the world’s fourth-largest consumer market, intensifying the need for scalable, reliable logistics solutions.
As key industrial hubs like Chennai and Pune continue to develop, driven by the government's ‘Make in India’ initiative, there has been a significant rise in demand for large-scale, high-quality logistics and industrial facilities. Both regions have become manufacturing powerhouses, attracting global corporations across industries, including automotive, electronics, and consumer goods, contributing to the country’s increasing need for modern infrastructure.
Frequently Asked Questions
What is the purpose of the joint venture between Logicap and Mitsubishi Estate?
The joint venture between Logicap and Mitsubishi Estate aims to develop modern industrial and logistics facilities across key industrial hubs in India, focusing on high-quality, sustainable infrastructure.
How much additional square footage are Logicap and Mitsubishi Estate planning to develop?
Logicap and Mitsubishi Estate are planning to develop an additional 3.5 million sq ft of industrial and logistics infrastructure in India.
What are the key markets targeted by the joint venture?
The key markets targeted by the joint venture include Chennai, Mumbai, Delhi-NCR, Pune, and Bengaluru.
What is the significance of the 'Make in India' initiative in this context?
The 'Make in India' initiative has driven the development of key industrial hubs like Chennai and Pune, increasing the demand for large-scale, high-quality logistics and industrial facilities.
What is Logicap’s long-term vision for India’s infrastructure landscape?
Logicap’s long-term vision for India’s infrastructure landscape is to continue delivering high-quality, sustainable infrastructure at scale, aligning with the growing international investor confidence in India’s rapidly evolving logistics sector.
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