(Commonwealth_ Logicap Management, a portfolio company of Singapore-based Rava Partners, has taken a major step forward in its expansion efforts by forming a joint venture with Mitsubishi Estate to develop modern industrial and logistics infrastructure across key industrial hubs in India. This partnership marks a significant milestone in both companies’ ambitions to capitalize on the rapidly growing demand for high-quality logistics and warehousing facilities in the country, driven by increasing industrialization, urbanization, and the booming e-commerce sector.
The joint venture’s initial portfolio includes two large-scale facilities located in Gurgaon, Haryana, which is part of the National Capital Region (NCR), one of India’s most dynamic industrial zones. The facilities are spread across a combined site area of 29 hectares, with a total built-up area of over 1.9 million square feet. These facilities are designed to meet the needs of businesses looking for modern, scalable, and strategically located industrial spaces to support their operations.
“We are thrilled to partner with Mitsubishi Estate, a leading strategic investor, to further scale up our portfolio. Our goal is to acquire and develop an additional 15 million square feet of industrial and logistics space over the next year, effectively doubling our current footprint,” said a representative from Logicap Management. This ambitious expansion reflects the company’s confidence in India’s logistics and warehousing sector, which has witnessed unprecedented growth in recent years due to factors like infrastructure development, the rise of organized retail, and growing demand for efficient supply chain solutions.
Logicap’s role in the joint venture is supported by its development platform, Pragati Warehousing, a company dedicated to the creation and management of high-grade industrial and logistics facilities across India. Pragati Warehousing has already built over 12 million square feet of Grade-A warehousing space, establishing itself as a leader in this growing market. Its focus on delivering state-of-the-art facilities that meet the needs of businesses across a range of industries has positioned the company as a key player in India’s industrial real estate landscape.
“Our mission at Pragati Warehousing is to create a pan-India presence by developing cutting-edge logistics solutions that not only meet the current demands of the market but also address the critical infrastructure needs of the future,” said Colonel Jitender Yadav, the founder of Pragati Warehousing. The company’s approach focuses on providing sustainable, efficient, and future-proof industrial spaces that can support India’s long-term economic growth and transformation.
The collaboration with Mitsubishi Estate is expected to leverage both companies’ expertise and resources, accelerating the development of a robust network of logistics facilities in some of India’s most important industrial hubs. Mitsubishi Estate, one of Japan’s largest real estate developers, brings to the partnership a wealth of experience in designing and managing large-scale commercial properties, including industrial facilities. This partnership allows Logicap to tap into Mitsubishi’s global expertise in the logistics sector, particularly in areas such as sustainable construction, innovative facility design, and long-term asset management.
For Mitsubishi Estate, this joint venture represents an opportunity to expand its footprint in India, a market with enormous growth potential. India’s industrial and logistics sector is poised to become one of the largest in the world, driven by strong economic growth, improving infrastructure, and the government’s push for manufacturing and industrialization through initiatives like “Make in India” and the development of dedicated freight corridors. The partnership with Logicap aligns with Mitsubishi Estate’s broader strategy of expanding its presence in fast-growing emerging markets.
