Prologis Announces Joint Venture with Jhaver Group to Expand India Presence

BusinessWire India
Chennai (Tamil Nadu) [India], June 12: Prologis, the global leader in logistics real estate, and Jhaver Group executive Vedant Jhaver today announced a strategic partnership to support the growth of India's industrial and logistics infrastructure.
With $207 billion in assets under management and a portfolio of ~1.3 billion square feet across 20 countries, Prologis brings deep expertise and innovation to the relationship. Vedant Jhaver brings local market insight, decades of business leadership in India, and a strong track record of building successful ventures.
Vedant Jhaver serves as group president of the Jhaver Group, a 130-year-old Indian conglomerate with businesses spanning infrastructure, healthcare, agricultural inputs, information technology and apparel accessories. He is also the founder and chairman of Prodapt Solutions, a global provider of IT services focused on the connectedness industry.

Developing Best-In-Class Logistics Real Estate in India

The new partnership, Prologis India, will address the country's rising demand for modern, scalable industrial and logistics facilities. The partnership will help Prologis develop a best-in-class logistics real estate portfolio across India's largest cities, strengthening the country's supply chain and connection to the global economy, while creating long-term value for Prologis customers and investors.
Prologis India has already launched projects in Chennai, Hosur, Bangalore, and Pune. Vedant Jhaver serves as Chairman of Prologis India, and Vineet Sekhsaria is the Head of India for Prologis.
"We are excited to deepen our longstanding partnership with Vedant," said Dan Letter, President, Prologis. "India continues to emerge as a top destination for global investment, and through Prologis India, we are well-positioned to build an exceptional portfolio of logistics and industrial assets."
Vedant Jhaver added, "This partnership combines Prologis' world-class expertise with my deep knowledge of building businesses in India. Together, we aim to create a new standard for logistics and industrial parks to meet the country's growing manufacturing and consumer demand."
"This is a pivotal moment for India's logistics infrastructure," said Sekhsaria. "With our global scale, development track record, and customer-centric approach, Prologis is well equipped to help modernize and strengthen the country's industrial backbone."
Prologis India has acquired land of more than 300 acres for the total development of 6.5 MM sf across four cities: Chennai, Bangalore, Hosur, and Pune.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)