Welspun One Logistics Parks forays into North India

Welspun One Logistics Parks (WOLP), forays into North India with the acquisition of two strategically located land parcels spread across Lucknow in Uttar Pradesh and Farukhnagar in Haryana. The development that entails a cost of INR 180 Cr will be executed under Welspun One’s first Alternate Investment Fund (AIF) product “Welspun One Logistics Parks Fund I”, launched earlier this year. With a gross leasable area aggregating to approximately 8 lakh sq. ft., the projects shall be rented to blue-chip tenants from sectors such as e-commerce, 3PL, and FMCG / FMCD, among others.
B.K. Goenka, Chairman, Welspun Group, mentions, “The demand for Grade-A warehousing multiplied amidst the pandemic, and as we move forward, it is only expected to mature further, in a big way. With the acquisition of land in Lucknow and Farukhnagar, not only are we offering warehousing facilities designed as per customer needs and in line with global standards, but these developments also mark an important milestone for the local communities as the parks have a potential to create employment opportunities for over 1500 people approximately across Northern India.”