Page 28 - CO January 2022

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CONSTRUCTION With increased activity in sectors like e-commerce and 3PL/ leasing and post sales services.
WAREHOUSE INVENTORY LIKELY TO SHOOT PAST 380
MILLION SQ FT BY 2024: JLL STUDY
Besides, the upcoming World Trade Centre, RPS Group is also
developing one more commercial project at the same location.
Established in 2006, RPS Group has delivered more than 9 million
logistics, the warehouse inventory in the country is expected to
reach over 380 million sq ft by 2024, according to JLL.
sq. ft. including of 4,324 housing units and it aims to deliver a total
area of 1.3 million sq. ft. in Faridabad over the next one year. It is
About 27 million sq ft of warehousing stock was added in first
targeting more than 3 million sq. ft. in the next three years.
nine months (January-September) of 2021, bringing the total
stock to 265 million sq ft in 2021. The total stock of Grade A and
B warehousing space in the top eight cities posted a CAGR of 16
AT AN OUTLAY OF `960 CRORES
percent from 2018 to YTD 2021 (till Q3, 2021), it said. ASIAN PAINTS LTD INKS MOU FOR EXPANSION PROJECT
“Growth in the supply of Grade-A spaces over the years is due to Asian Paints Ltd announced about its proposal to expand the
high demand for spaces with high specifications, citing increased existing manufacturing capacity of the Company’s manufacturing
inclination for high-grade structures and introduction of new facility situated at Ankleshwar, Gujarat.
players in the market,” said Yogesh Shevade, Head of Logistics The Company has today signed a Memorandum of Understanding
and Industrial, India, JLL. with the Government of Gujarat, commencing the proposed
According to him, the Indian market has now firmly established expansion of manufacturing capacity of paint from 130,000 KL
itself for a more predominant position in Grade-A space as to 250,000 KL and resins and emulsions from 32000 MT to 85000MT
opposed to Grade-B space. to be completed over a period of the next 2 -3 years at a total
investment of `960 crores (approx.) on plant and machinery at the
current prevailing prices. This expansion will be carried out on the
existing land owned by the Company.

MAN INFRA SUBSIDIARY TO JOINTLY DEVELOP ULTRA-
LUXURIOUS RESIDENTIAL HIGH RISE TOWER AT TARDEO,
MUMBAI
Man Infraconstruction subsidiary, MICL Properties LLP on Monday
announced that it is jointly developing an ultra-luxurious residential
high rise tower at Tardeo, next to Bhatia Hospital, Mumbai under
asset-light Development Management (DM) model.
While MICL group has a very strong real estate portfolio in the
western and central suburbs of Mumbai, this project addition will
establish the Group’s presence in South Mumbai.
The Project has a carpet area for sale of 6 lakh sq. ft. is expected
RPS GROUP TO INVEST `600 CRORE TO DEVELOP to generate approximately `3,000 cr over the next 4 to 5 years.
WORLD TRADE CENTER IN FARIDABAD This landmark project will be one of the tallest residential structures
Real estate developer RPS Group will invest around `600 crore to in India having a proposed height of 250+ mtrs.
develop World Trade Centre in Faridabad, Haryana. The group Apart from managing the design, sales and marketing of the
has tied up with Infrastructure group Viridian RED for the purpose. Project, the Company will also execute the construction work
Located in Sector 27C in Faridabad, the upcoming World Trade leading to timely delivery of the Project.
Centre (WTC) Faridabad will be spread across 7.58 acres. It will
have a total leasable/ saleable area of one million sq. ft. that GODREJ PROPERTIES BUYS 16-ACRES LAND PARCEL IN
would be spread across four towers, the company said in a BENGALURU’S SARJAPUR
statement. The construction of WTC is progressing at a brisk pace Godrej Properties Ltd. (GPL), one of India’s leading real estate
and it will be delivered in phases beginning mid-next year. All our developers, today announced that it has purchased a land
stakeholders, including our channel partners are excited to partner measuring approximately 16 acres at a strategically located
with a renowned global player. and fastest developing micro-market of Sarjapur, (Bengaluru) to
Faridabad is fast emerging as a major destination for both develop a mid-income project.
commercial as well as residential segment. The global network The project is estimated to have a developable potential of
of World Trade Centres has a proven track record in amplifying approximately 1.5 million square feet saleable area comprising
growth in respective locations and we are confident that our tie-up primarily of residential apartments of various configurations.
with RPS Group will throw up myriad opportunities that exist in this Sarjapur is one of the most preferred residential locations in
micro-market for our various stakeholders. With our collective effort Bengaluru and also has excellent connectivity to the IT/ITES belt at
amid rapid infrastructure development, Faridabad has all requisite Bellandur on Outer Ring Road and several key hubs of the city. The
to emerge as the new commercial hub in the NCR region. site is strategically located close to the Sarjapur main road and
As per the contours of the tie-up between RPS Group and Viridian offers an extremely well-developed social and civic infrastructure
RED, the land and construction cost of WTC Faridabad will be with multiple schools, hospitals, retail, residential, and commercial
borne by RPS Group, while Viridian RED will be responsible for sales, spaces in close proximity.

28 CONSTRUCTION OPPORTUNITIES|JANUARY 2022