Mahindra Lifespace Enters Sustainable Industrial Cluster Space
Mahindra Lifespace Developers, the real estate development company of Mahindra Group, has on Tuesday (7 November) launched its new brand-- Origin by Mahindra World City, which focuses on sustainable industrial infrastructure. With this, the company is targeting the emerging market opportunities for sustainable industrial clusters, which provide better manufacturing ecosystem along with other the facilities, including faster market access, warehousing and skill development centres, and a range of other commercial and residential supports.
Under this new brand, the company has two industrial cluster projects already in progress with a total investment of about Rs. 600 crore. These are coming up in North Chennai with a Phase 1 development of 264 acres, and in Ahmedabad with a Phase 1 development of 268 acres. While the Chennai project is a joint venture between Mahindra World City and Sumitomo Corporation of Japan, the Ahmedabad one is being developed in partnership with International Finance Corporation (IFC).
The company said it is exploring similar opportunities across the country and is in the process of identifying locations.
“With India expected to emerge among the top five manufacturing countries globally, sustainable future ready business ecosystems will act as a game changer for inclusive growth, job creation and productivity enhancements,” said Arun Nanda, chairman, Mahindra Life Space.
The Origins’ industrial clusters, which would typically come up along the high growth industry corridors, will be developed in plots measuring from 250 acres to 600 acres depending on the availability of land and the nature of industries, says the company.
According to senior company officials claimed that clear land titles, plug and play infrastructure and in-house expertise in operations and other business support services such as warehousing, logistics, banks and food courts along with value-added services like fulfilment centres, industrial kitchens and waste management systems are the unique features of sustainable industrial cultures. Apart from these, other supporting commercial and residential developments in line with Mahindra Lifespaces’ focus would also help attract talents and improve productivity.
