Prakhhyat Group has partnered with Morgan Stanley Real Estate Investing (MSREI) to develop a 0.7 million sq. ft. of Class A warehousing project near Mumbai. Mumbai based Prakhhyat Group specialises in industrial and logistics real estate development. In the joint venture MSREI will hold 95% share, it will invest anywhere between ₹300-350 crore to develop it.
This marks MSREI’s entry in the Bhiwandi sub-market of Mumbai. “With this, MSREI has now invested in over 5.6 million square feet of logistics assets across the country.”
The K Square Logistics Park will be built across 25 acres with state-of-the-art international Grade A specifications. The development will offer warehousing solutions to institutional customers from e-commerce, third party logistics (3PL) players, FMCG and FMCD sectors, among others. “Our experience in this market has helped us establish a solid track record in the logistics space,” said Sandeep Bagla, director Prakhhyat Group.
K Square Logistics Park, Prakhhyat Group’s flagship development, is spread over 156 acres with a total development footprint spanning over 4 million square feet and houses multiple domestic and international tenants across varied sectors. It has over 10 million square feet of projects under various stages of development.
