ProLogis and Raheia Corp have completed an agreement under which, as joint venture partners, they will acquire property and develop and manage assets. Abhijit Malkani was named head of the Indian operations. 27 acres have already been acquired in Loni, near Pune.
The goal is to develop 7.5 million sq. ft. (700,000 m²) over the next three years, for an investment of $575M (€364M). The joint venture’s goal is to develop 25 million sq. ft. (2.3 million m²) over the next five years.
