chennai singaporebased xander investment management has acquired one million square feet of warehousing space in free trade and warehousing zone ftwz located at sriperumbudur near chennai the financial details of the deal remain undisclosed xander said the new facilities are planned to be ready for occupation from the last quarter of 2021xander already owns one million square feet of warehouses in the ftwz acquired over the last decade and the new acquisition will double its ownership in the park to 2 million square feet the company said notified as the first ftwz in india and recently approved as a multisector sez the chennai ftwz also referred to as j matadee ftz jmftz provides gradea warehousing and industrial facilities to global operators and manufacturers current occupiers include companies like dhl db schenker kerry indev tvs supply chain and seaways supply chainthe expansion in jmftz is fueled by strong tenant performance and enhanced demand from existing and new occupiers the new facilities will provide a further thrust to the logistics and manufacturing sectors in the region and act as a catalyst for more rapid economic development in tamil nadu we are leveraging our expertise and knowledge to design bestinclass industrial logistics infrastructure with an emphasis on esg and sustainability a xander spokesperson said the free trade zone is strategically located on the high growth chennaibengaluru industrial corridor cbic with connectivity to chennai ennore and kamrajar ports which together account for 20 of container traffic in india it is also in close proximity to major industrial belts like oragadam maraimalai nagar tiruvallur and kanchipuram which are home to a large number of electronics and autoauto ancillary companiesftwz has already provided over 1000 new jobs and further expansion will create more employment and immensely contribute to the local economy with one third of exports from sezs it has the potential to become a strong pillar of the indian economy sunil rallan cmd at jmftz said xander investment management is the private equity real estate arm of the xander group inc headquartered in singapore and focused on emerging markets with an emphasis on india and south east asia the firm has raised usd 21 billion from institutional investors including some of the worlds largest pension funds charitable endowments and financial institutions