Source : MoneyControl News | Dated : Aug 18, 2021
Acquisition doubles Xander’s ownership in Chennai FTWZ to 2 mn sq ft; New facilities to be ready for occupation in Q4 2021 onwards
Singapore-based Xander Investment Management on August 18 said its industrial platform has acquired an additional one million sq ft of warehousing space in Free Trade and Warehousing Zone at Sriperumbudur near Chennai in Tamil Nadu.
Xander already owns a million square feet of warehouses in the FTWZ acquired over the last decade, and the new acquisition will immediately double its ownership in the park.
Notified as the first FTWZ in India, and recently approved as a multi-sector SEZ, the park provides Grade-A warehousing and industrial facilities to global operators and manufacturers. Current occupiers include companies like DHL, DB Schenker, Kerry Indev, TVS Supply Chain and Seaways Supply Chain.
“The expansion in JMFTZ is fueled by strong tenant performance and enhanced demand from existing and new occupiers. The new facilities will provide a further thrust to the logistics and manufacturing sectors in the region and act as a catalyst for more rapid economic development in Tamil Nadu. We are leveraging our expertise and knowledge to design best in class industrial/ logistics infrastructure with an emphasis on ESG and sustainability,” said a Xander spokesperson.
The FTWZ is strategically located on the high growth Chennai-Bengaluru Industrial Corridor (CBIC) with excellent connectivity to Chennai, Ennore and Kamrajar Ports, which together account for around 20% of container traffic in India. It is also in close proximity to major industrial belts like Oragadam. Maraimalai Nagar, Tiruvallur and Kanchipuram, home to a large number of electronics and auto/auto ancillary companies.
KG Centre Point, Poonamallee located close to the Chennai-Banglore highway is just 15 minutes drive away from this economic hub. Each house available in this residential community is a potential investment opportunity. Be it for living or renting, homes at Centre Point only offer multiple benefits in terms of both convenience and investment returns. All modern amenities are available within the residential community and all other facilities such as hospitals, schools, entertainment, recreation, etc. are close by. So rather than regretting later, it is better to invest now and make use of this great opportunity.