Logicap Management, the real-assets arm of Singapore’s Rava Partners, and Japan’s Mitsubishi Estate Co. have agreed to inject a fresh tranche of capital into their joint venture, earmarked for developing 3.5 million square feet of industrial and logistics facilities across India. This follow-on investment builds on the September 2024 partnership that initially targeted Grade A warehouses and manufacturing-support infrastructure in key hubs.
Under the expanded agreement, projects will roll out in strategic corridors including Sriperumbudur and Mapeddu in Chennai, alongside planned developments in Mumbai, Bengaluru, Pune, and the Delhi-NCR region. Through its Pragati Warehousing platform, Logicap has already delivered fully leased assets in the NCR, demonstrating strong tenant demand and execution capabilities.
Priyank Shah, Head of Fund Management at Logicap, said the extension “reflects 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”.
With the new infusion, the JV’s total pipeline will rise to nearly 5.5 million sq ft when combined with existing ready assets, feeding into a broader ambition to build a 13.5 million sq ft pan-India portfolio. The move underscores mounting international confidence in India’s logistics sector, fuelled by surging e-commerce growth, the government’s Make in India push, and the country’s evolution into the world’s fourth-largest consumer market by 2025.
