Welspun One Logistics Parks to build 1 mn sq. ft. of warehousing space for BMR

Welspun One Logistics Parks (WOLP), announced that it has acquired 40 acres of land, located on the Malur-Hosur road, to set up a large-scale warehousing facility. With a development potential of ~1 million square feet and a total project cost of INR 300 Cr, the facility will service the Bengaluru Metropolitan region’s (BMR’s) industrial and warehousing demand for space.
Bengaluru has historically been a warehousing supply starved market with limited institutional developer presence in the Grade A space; however, demand has witnessed a significant uptick on the back of the post COVID E-Commerce boom. As per research estimates by various International Property Consultants (IPCs), demand for both warehousing and industrial space in Bengaluru is expected to be ~15-20 million square feet over the next 3 years. This acquisition comes at an opportune time giving WOLP an early mover advantage while helping the firm capitalize on the shifting customer preference towards Grade A warehouses.