Macrotech Developers announced that it has partnered with Morgan Stanley Real Estate Investing (MSREI) to develop a premium warehousing project near Mumbai by investmenting an amount of Rs 600 crore.

In a statement, Macrotech Developers said it has closed a deal with MSREI to develop about 1.9 million square feet area at Palava Industrial and Logistics Park (PILP) and "This would entail an investment of approximately Rs 600 crore for development of Grade-A warehouses across 72 acres land parcel at PILP."

This collaboration will leverage our development expertise along with MSREI’s industrial know-how as we continue to expand and enhance this best-in-class industrial park.

MSREI is the global private real estate investment management branch of Morgan Stanley. Macrotech Developers will play the roles of development manager for the project, responsible for leasing, project development, and asset management.

"The company expects more such strategic partnerships in the near future, he added. The company expects more such strategic partnerships in the near future", he added.

Vineet Sekhsaria, Executive Director and Head, Morgan Stanley Real Estate Investing India, said, "We believe that Palava will soon become the most strategic location for logistics and industrial development in Western India.”

Macrotech Developers has delivered more than 81 million square feet of real estate till now.