"UK's Actis Partners with Mahindra Lifespaces and Ample Parks for ₹800 Crore Project at Mahindra World City, Chennai"

The Ample Parks development platform, a joint venture between UK-based Actis and Mahindra Lifespaces, is set to kick off its first project in India with a major industrial development inside Mahindra World City, located 60 km south of Chennai. The initiative will create 2 million sq ft of Grade A industrial space, offering both plug-and-play facilities and custom-built solutions for a variety of clients.

Akash Rastogi, CEO and Director at Ample Parks, revealed the project will involve an investment of nearly ₹800 crore. "We plan to develop the site in phases, with the first phase covering around 500,000 sq ft expected to be completed in 18 months," he told Businessline. Rastogi also indicated that future projects are being considered in Hosur, and other Tier-I cities such as Bengaluru, Mumbai, and Ahmedabad, as well as Tier-2 cities like Lucknow and Coimbatore.

Actis, known for its global investments in sustainable infrastructure, has raised $25 billion for future investments. In this project, Actis will hold a 67 percent stake, with Mahindra Lifespaces owning the remaining share.

The Ample Parks platform aims to acquire and develop approximately 1.5 million square meters of greenfield and brownfield sites across India over the coming years. This expansion is expected to position Ample Parks as a leading provider of industrial and logistics real estate solutions for both global and local corporations.

Raghvendra Chandak, Director of Real Estate at Actis, noted that the new project’s prime location will attract top-tier industrial tenants, leveraging the excellent infrastructure, road network, and skilled workforce available in Mahindra World City. This business city, established in 2002, is India’s first integrated business hub and includes multi-sector Special Economic Zones (SEZs) and a Domestic Tariff Area (DTA). It hosts over 67 major companies and has generated cumulative exports of more than ₹88,000 crore and direct employment for 40,000 people.

Chandak emphasized that this project marks a significant milestone for Ample Parks in the burgeoning industrial ecosystem in Chennai. Actis has previously invested approximately $1.7 billion in real estate across Asia, including in countries like China, South Korea, and Vietnam.

HBL