Lodha Group today announced a joint venture established between Lodha Group and ESR India, the India platform of leading Asia Pacific logistics real estate platform, for the development of ESR-Lodha Industrial Park at Palava City.
Through this landmark collaboration that leverages Lodha Group's development expertise and ESR's industrial know-how, the two parties will build a best-in-class industrial park which comprises 17 institutional-grade speculative and non-speculative buildings developed on an 89-acre site. Moreover, it is expected to be the first and largest master-planned industrial park in Mumbai, India. The total investment is estimated to be US$100 million. The development is part of the 170-acre Industrial Park at Palava City which will include non-polluting manufacturing, logistics and warehousing.