DP World Limited Opens $52 Million Phase 2 of Nhava Sheva Business Park in India

DP World Limited has inaugurated Phase 2 of Nhava Sheva Business Park (NSBP) in India, adding one million square feet of warehousing capacity across 42 acres at an investment of approximately ₹500 crore ($52 million), the company announced Oct. 7.

The opening brings the business park, located in the Nhava Sheva/Jawaharlal Nehru Port area of Navi Mumbai, Maharashtra, to a total of two million square feet of warehousing across 86 acres. The first phase spans 44 acres and provides one million square feet of space.

DP World Limited Inaugurates Nhava Sheva Business Park Expansion

H.E. Essa Kazim, Executive Chairman of DP World, and Yuvraj Narayan, Group Chief Executive Officer, inaugurated the second phase in the presence of members of DP World's Global Board of Directors. The ceremony took place during Kazim's first visit to India in his new role.

At roughly ₹500 crore for one million square feet of new capacity, the investment implies about ₹5,000, or approximately $52, per square foot of warehouse space. That figure is a ratio of announced investment to capacity, not a sale price or valuation. No sale, acquisition, loan or lease transaction was announced.

Integrated Logistics Ecosystem at Nhava Sheva

DP World said the expansion is part of a broader plan to develop an integrated logistics ecosystem at Nhava Sheva that connects port operations with container freight stations, rail, warehousing and Free Trade Warehousing Zone capabilities. The company said the approach is intended to help customers move cargo more efficiently, optimize logistics costs and access end-to-end supply chain solutions through a connected infrastructure network.

"India is a strategic partner in DP World's global growth journey, and we see significant opportunities to contribute to the country's ambitions as a leading global trading nation," Kazim said. "Our commitment goes beyond investing in infrastructure; it is about building enduring partnerships, strengthening connectivity and creating integrated supply chain solutions that enable Indian businesses to compete more effectively in global markets. The expansion of Nhava Sheva Business Park reflects our confidence in India's long-term potential and our continued focus on meeting the evolving needs of our customers. We look forward to deepening our collaboration with government and industry partners to support India's growth and unlock new opportunities for trade."

Partnership With Jawaharlal Nehru Port Authority

During the visit, the DP World delegation met with Gaurav Dayal, Chairman of the Jawaharlal Nehru Port Authority (JNPA), and Ravish Kumar, Deputy Chairman. The meeting reaffirmed a partnership that spans nearly three decades, beginning with the concession agreement for Nhava Sheva International Container Terminal (NSICT).

Discussions focused on strengthening the relationship and exploring future collaboration, including the development of Vadhavan Port and further investment in the JNPA Special Economic Zone. DP World said the engagement underscored the importance of sustained public-private collaboration in building the infrastructure, connectivity and capacity needed to support India's next phase of trade-led growth.

Market Context: Warehousing Demand in India and Mumbai

The expansion comes as demand for modern industrial and logistics space in India has been strong. Leasing across eight major Indian cities rose 15% year over year to 19.3 million square feet in the first quarter of 2026. Total stock reached 568 million square feet, and vacancy was 11.1%.

Mumbai was the strongest major market in that period, with warehousing transactions up 66% to 7.4 million square feet, the highest volume among the markets tracked. Demand drivers included manufacturing growth, domestic consumption, supply-chain diversification and greater outsourcing of logistics operations.

One market report put Mumbai's prime logistics rents at about ₹26 per square foot per month, with vacancy at 13.5% and rents rising year over year. Another report cited 5.3% year-over-year rental growth in Mumbai during the first half of 2026, though the two reports use different measurement periods and market definitions.

DP World's Financial and Strategic Backdrop

DP World's 2025 revenue rose 22% to $24.4 billion, and adjusted EBITDA increased 18% to $6.4 billion. The company's Asia Pacific and India region generated $3.6 billion of revenue, up 26.4%, with adjusted EBITDA of $748 million.

Its Logistics, Parks and Economic Zones segment recorded 28.1% revenue growth to $10.5 billion in 2025, with adjusted EBITDA up 29.4% to $1.5 billion. DP World invested $3.1 billion globally that year to expand its logistics network and has announced plans for an additional $5 billion of investment in India to expand its integrated supply-chain network supporting export and domestic trade.

Outlook for Port-Adjacent Logistics Real Estate

The project increases DP World's holdings of logistics real estate connected to one of India's principal container gateways. By combining port access, rail, container freight-station services and warehouse space, the company positions NSBP as part of a connected logistics platform rather than a standalone warehouse project.

For developers and investors, the announcement points to continued focus on port-adjacent logistics space serving import distribution, export consolidation, domestic consumption and manufacturing supply chains. Mumbai's leasing growth and rental increases indicate ongoing occupier demand, while land availability and regulatory constraints limit new development.

Sources

• DP World: DP World Reaffirms Long-Term Partnership With India as Executive Chairman H.E. Essa Kazim Makes First Visit