ProLogis and K Raheja Corp. formed a joint venture that plans to invest $575 million into developing 7.5 million square feet of warehouse space within three years and up to 25 million square feet in five years. ProLogis named Abhijit Malkani as its head of operations in India as part of the deal. "Launching development in India, one of Asia's most vibrant growth markets, is a logical next step," ProLogis' chairman and CEO Jeff Schwartz said.

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