Welspun One Logistics Parks (WOLP) plans to invest over Rs 600 crore to develop a Grade-A, in-city warehousing facility in Thane near Mumbai. The facility will support urban last-mile delivery and is expected to be operational in the second half of 2025. WOLP aims to create a portfolio of 16-18 million sq ft over the next 4-5 years across tier 1 and 2 cities, with an overall investment of over Rs 8,000 crore.
The project has an outlay of Rs 600 crore and will be located in close proximity to the prime eastern suburbs of Thane and Mulund, as well as the eastern express highway.
The warehousing industry is seeing significant growth in India, driven by rising consumer demand, the expansion of e-commerce, and investment in manufacturing, with cumulative supply expected to reach 516 million sq ft by 2026. Mumbai, Pune, and Delhi showed the highest demand during H1 2021, with a total of 15 million sq ft of net absorption. Logistics and industrial sectors remained resilient post-pandemic and are expected to pick up pace in H2 2021, with increasing upward rental bias in select markets.
In the first half of the year, net absorption or new leases stood at 15 million sq ft in the top eight cities of India. In terms of demand for warehousing, Mumbai, Pune and Delhi-NCR emerged as the top three locations in terms of demand during this period.