This is Mapletree's first acquisition in India's logistics sector and one of the biggest deals in the warehousing and logistics space this year.

Singapore based real estate development firm Mapletree acquired an under-construction logistics park in Pune's Chakan area from KSH Infra Industrial Park for $40 million. This is Mapletree's first acquisition in India's logistics sector and one of the biggest deals in the warehousing and logistics space this year.

The 0.7 million sq ft grade A industrial park is part of the warehousing and industrial logistics park developer's 1.2 million sq ft development at the site.

As per the agreement, Mapletree has committed to buy 100 per cent stake in the park at a pre-agreed valuation along with pre-defined technical specifications.

The entire development and leasing of the project will be undertaken by KHS Infra.

Rohit Hegde, Managing Director, KSH Infra, said: “This transaction marks our third marquee deal in the industrial and warehousing space so far. Our aim going forward is to inspire more green development with a focus on building as per best in class green standards such as EDGE.”