The property developer, listed as Macrotech Developers, and Morgan Stanley Real Estate Investing (MSREI) have reached an agreement to develop a 72-acre logistics park at the Palava Industrial and Logistics Park (PILP) near Mumbai.
“We believe that Palava will soon become the most strategic location for logistics and industrial development in western India. Considering the excellent infrastructure with multiple connectivity routes to the city and the forthcoming maritime trans-port link, Palava will have advantages, unlike any other location,” said Vineet Sekhsaria, executive director and head of Morgan Stanley Real Estate Investing India.
The development of the logistics park will total 1.9 million square feet of class-warehouse space. Lodha will serve as project development manager, responsible for leasing, project development and asset management.
The industrial and logistics park is near Jawaharlal Nehru Port Trust (JNPT), the future Navi Mumbai Internati
