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Lodha announces $1 billion partnership with Ivanhoé Cambridge, Bain Capital

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Each of the three partners will have about 33% of equity interest in the property ownership, while Lodha will lead the development, operations and management of the assets.

Mumbai-based real estate developer Lodha on Wednesday announced a partnership with Bain Capital and Ivanhoe Cambridge to develop a green digital infrastructure platform.

Together, they will establish a pan-India presence in the digital infrastructure space that includes logistics, light industrial parks and in-city fulfilment centres. It will be a joint investment of roughly $1 billion to create around 30 million square feet of operating assets to serve India’s digital economy.

Each of the three partners will have about 33% of equity interest in the property ownership, while Lodha will lead the development, operations and management of the assets.

Abhishek Lodha, MD & CEO, Lodha said: “With the rapid digitisation of our economy and the progress of ‘Make in India’ combined with the China + 1 strategy of most global manufacturers, we see that there is a huge demand for Grade-A digital infrastructure in our country.”

The first project is a 110-acre logistics and industrial park development at Palava, in Mumbai. The platform has already started looking at the pan-India acquisitions of land and developed and under-development projects in these asset classes.

“We see a sustained, thematic opportunity to support India’s journey to a digital-first economy with high-quality infrastructure, which we believe can have a very positive impact on communities, consumers and businesses throughout the country,” said Ali Haroon, managing director at Bain Capital.

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