Macrotech Developers
Real estate building major, Macrotech Developers, has formed a partnership with Morgan Stanley Real Estate Investing (MSREI) to develop a premium warehousing project on the outskirts of Mumbai with an investment of ₹600 crore. The builder has closed a deal with MSREI to develop about 1.9 million square feet area at Palava Industrial and Logistics Park (PILP) for development of Grade-A warehouses across 72 acres land parcel at PILP in which Macrotech Developers will act as the development manager for the project, responsible for leasing, project development, and asset management. The PILP is located close to JNPT, the upcoming Navi Mumbai International Airport, and the industrial hub of Taloja MIDC. The logistic park is part of Macrotech's 4,500-acre Palava city township, informed CEO, Townships and Rental Assets, Lodha, Shaishav Dharia. Through this formidable collaboration, the company will leverage its development expertise along with MSREI's industrial know-how as they continue to expand and enhance this best-in-class industrial park. Executive Director and Head, MSREI, Vineet Sekhsaria, said that Palava will soon become the most strategic location for logistics and industrial development in Western India.
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