DHL Logistics has renewed it's lease for 317,000 sq ft warehousing space at Panvel, near Mumbai, for five years to strengthen its distribution network and meet rising demand from e-commerce and consumer companies.
The logistics and supply chain multinational leased the space at Ascent Free Trade and Warehousing Zone (FTWZ), developed by Ascendas Panvel FTWZ, part of CapitaLand Group. DHL would pay a monthly rental of Rs 1.80 crore with a 5% escalation clause with effect from June 2025.
The leasing tenure is effective August 2024 and the agreement registered in September this year includes a security deposit of Rs 14.11 crore, showed documents accessed through Propstack, a realty data analytics platform.
DHL Group currently has over 21 million sq ft in warehousing space across India, serving more than 50,000 locations.
The new warehouse has connectivity with the Mumbai-Pune Expressway, Jawaharlal Nehru Port Trust (JNPT), and the upcoming Navi Mumbai International Airport, making it a strategic location for companies looking to strengthen supply chain efficiency and international trade-related warehousing.
Recent large-scale leasing activity in Panvel underscores increasing consolidation by logistics operators and multinational firms in Grade A warehousing facilities. This allows occupiers to benefit from duty deferment and simplified compliance, making it attractive for global supply chain players like DHL.
DHL Logistics and CapitaLand Group did not respond to ET’s queries.
India’s warehousing market continues to see sustained demand, driven by third-party logistics (3PL), e-commerce, retail, and manufacturing companies. Occupiers are opting for long-term commitments in strategic micro-markets amid rising rentals.
Industry experts note that Panvel, with its proximity to JNPT and enhanced infrastructure, is well placed to remain a strong logistics and warehousing cluster.
The DHL contract highlights both the growing scale of occupier demand and the growing role of institutional landlords in shaping India’s logistics landscape. With cargo volumes through JNPT on the rise and the Navi Mumbai International Airport expected to start operations in the near term, Panvel’s importance as a logistics hub is set to strengthen further.
The logistics and supply chain multinational leased the space at Ascent Free Trade and Warehousing Zone (FTWZ), developed by Ascendas Panvel FTWZ, part of CapitaLand Group. DHL would pay a monthly rental of Rs 1.80 crore with a 5% escalation clause with effect from June 2025.
The leasing tenure is effective August 2024 and the agreement registered in September this year includes a security deposit of Rs 14.11 crore, showed documents accessed through Propstack, a realty data analytics platform.
DHL Group currently has over 21 million sq ft in warehousing space across India, serving more than 50,000 locations.
The new warehouse has connectivity with the Mumbai-Pune Expressway, Jawaharlal Nehru Port Trust (JNPT), and the upcoming Navi Mumbai International Airport, making it a strategic location for companies looking to strengthen supply chain efficiency and international trade-related warehousing.
Recent large-scale leasing activity in Panvel underscores increasing consolidation by logistics operators and multinational firms in Grade A warehousing facilities. This allows occupiers to benefit from duty deferment and simplified compliance, making it attractive for global supply chain players like DHL.
DHL Logistics and CapitaLand Group did not respond to ET’s queries.
India’s warehousing market continues to see sustained demand, driven by third-party logistics (3PL), e-commerce, retail, and manufacturing companies. Occupiers are opting for long-term commitments in strategic micro-markets amid rising rentals.
Industry experts note that Panvel, with its proximity to JNPT and enhanced infrastructure, is well placed to remain a strong logistics and warehousing cluster.
The DHL contract highlights both the growing scale of occupier demand and the growing role of institutional landlords in shaping India’s logistics landscape. With cargo volumes through JNPT on the rise and the Navi Mumbai International Airport expected to start operations in the near term, Panvel’s importance as a logistics hub is set to strengthen further.
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