ESR Press Releases
17 Jul 2024 | ESR News
ESR leases 48,800 sq. ft. industrial space to UPM in Navi Mumbai, India
ESR Group Limited, Asia-Pacific's leading New Economy real asset manager, has leased 48,800 sq. ft. (over 4,500 square metres (“sqm”) of prime industrial real estate to UPM's business unit UPM Raflatac, a world-leading sustainable labelling solutions provider
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18 Jun 2024 | ESR News
ESR strengthens strategic presence in Chennai, India with an additional 27-acre land acquisition in Oragadam
Our additional investment in Oragadam opens doors for other major businesses seeking a foothold in the coveted Oragadam-Sriperumbudur region
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15 Nov 2023 | ESR News
ESR Expands Logistics Footprint in Nagpur with 58-acre Land Acquisition
Second ESR investment in Nagpur to add up to 1.4 million sq. ft. of logistics space across 10 buildings in India’s emerging warehousing hub
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14 Sep 2023 | ESR News
ESR Expands into Odisha with 57-acre Land Acquisition in Cuttack
The region’s only institutional-grade facility with a development potential of 1.2 million sq. ft.
to support the expansion of India’s e-commerce and retail brands
INDIA, 14 September 2023 – ESR Group Limited (“ESR” or the “Company”, together with its subsidiaries, the “Group”; SEHK Stock Code: 1821), APAC’s largest real asset manager powered by the New Economy, has acquired 57 acres of land in Cuttack with a total development potential of 1.2 million sq. ft. and committed an investment of approximately INR 360 crores for the construction and development of ESR Cuttack Logistics Park, which is the region's only institutional-grade facility with Grade A specifications. The Park, which has gained prominence amongst India’s largest e-commerce and retail brands, presents a promising opportunity to cater to these escalating warehousing demands and to support the region's growth.
ESR Cuttack Logistics Park is a multi-building facility strategically located in Odisha, eastern part of India, where the availability of large scalable development sites is rare. This strategic move represents ESR's foray into Odisha, fortifying its position to build value for more customers in the eastern region following its first asset in Kolkata, ESR Uluberia Logistics Park. ESR Cuttack Logistics Park was acquired
with one operational building, which is now fully leased and occupied by one of India’s largest ecommerce companies. ESR is on track to complete the construction of the second building.
The Park is projected to accommodate six buildings. Located within the thriving warehousing hub of North Cuttack, ESR’s new state-of-the-art logistics park both harnesses and supports the region's rapid economic growth. As essential trading centres, the twin cities of Cuttack and Bhubaneswar are driving Odisha's economic expansion with their wealth of resources and thriving sectors like IT/ITES and manufacturing. The demand for logistics facilities has surged due to the resilient growth of Odisha's Gross State Domestic Product (GSDP) over the last 10 years at 7.9%1 annually on average (excluding COVID-19 year 2020-21), alongside increased income and purchasing power as well as robust digital penetration. Warehousing demand is mainly driven by third-party logistics (3PLs), e-commerce, retail, consumer goods, durables, paints, chemicals, automobiles, and ancillaries.
Abhijit Malkani, CEO of ESR India, said, "ESR Cuttack Logistics Park assumes a pivotal role in reshaping the next phase of expansion for e-commerce, retail, and 3PL customers. The steadfast growth of online and retail consumers in Odisha has motivated us to expand in the region and offer a best-in-class facility integrated with green building features. ESR Cuttack Logistics Park will revolutionise warehousing in the micro market, elevating the logistics landscape and meeting the evolving demands of businesses for seamless supply chain efficiency.”
Driving ESR’s human-centric philosophy, this Park will be integrated with the 'ESR smart mobile app' to enhance client experiences and enable digital park management. In addition, as part of ESR’s continued commitment to develop and maintain sustainable and efficient buildings, this park will be certified by IGBC (Indian Green Building Council) and integrate energy and water-efficient designs to reduce environmental impact and operating costs for clients.
As of 30 June 2023, ESR has a development work-in-progress of US$13.0 billion, the largest development workbook in APAC. In 1H 2023, the Group achieved a record US$3.8 billion of development starts as well as delivered US$2.2 billion in completions demonstrating its ability to deliver at scale. ESR India, part of the ESR Group, is a leading developer and manager of industrial and logistics real estate with assets under management (AUM) of approximately US$1.6 billion and 2.4 million sqm of GFA as of 30 June 2023.
About ESR
ESR is APAC’s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With approximately US$150 billion in total assets under management (AUM), our fully integrated development and investment management platform extends across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand and Southeast Asia, representing over 95% of GDP in APAC, and also includes an expanding presence in Europe and the U.S. We provide a diverse range of real asset investment solutions and New Economy real estate development opportunities across our private funds business,which allow capital partners and customers to capitalise on the most significant secular trends in APAC. ESR is the largest sponsor and manager of REITs in APAC with a total AUM of US$46 billion. Our purpose – Space and Investment Solutions for a Sustainable Future – drives us to manage sustainably and impactfully and we consider the environment and the communities in which we operate as key stakeholders of our business. Listed on the Main Board of The Stock Exchange of Hong Kong, ESR is a constituent of the FTSE Global Equity Index Series (Large Cap), Hang Seng Composite Index and MSCI Hong Kong Index. For more information on ESR, please visit www.esr.com
03 Nov 2022 | ESR News
GIC and ESR establish a US$600 million Joint Venture to invest in Core Industrial and Logistics Assets in India
The new Core JV provides focused capital for investments into core industrial and logistics assets in India.
SINGAPORE/MUMBAI/HONG KONG, 3rd November 2022– GIC and ESR Group Limited ("ESR"; SEHK Stock Code: 1821) announced, today, an 80:20 strategic partnership to establish a US$600 million joint venture ("Core JV") to acquire income-producing core industrial and logistics assets in India.
The Core JV represents an extension of the existing partnership in India between the two, which was initiated in 2020, with the initial capital pool dedicated to investing in development and value-add logistics and industrial opportunities across India. The new Core JV provides focused capital dedicated to enabling inorganic growth of the platform and will invest in stabilised operational assets in strategic locations across Tier 1 and Tier 2 cities of the country. Investments in enabling sustainable infrastructure are critical to the country's development. With an upsurge in the share of organised retail and e-commerce, supported by emerging sectors such as electric vehicles and semiconductors, the industrial and logistics asset class is expected to outperform other real estate and infrastructure asset classes in the medium term.
Jeffrey Shen and Stuart Gibson, ESR Co-founders and Co-CEOs said: "Capital partner support has been key to the growth of ESR's new economy real estate platform. We are excited to work with GIC to capitalise on the strong growth in the logistics sector in India. This stems from our long and deep strategic relationship covering multiple geographies and funds. As APAC's largest real estate asset manager, ESR's integrated fund management platform has provided our capital partners with access to some of the world's best secular growth opportunities propelled by the positive trends of e-commerce and digital transformation. These trends open new investment opportunities to ESR and our capital partners as the demand for advanced, large-scale, well-located logistics and industrial assets become even greater.”
Abhijit Malkani, CEO of ESR India, stated: “India is at the cusp of a supply chain transformation supported by automation, digitisation, and favourable government policies. Class-A industrial and logistics developments offer a variety of features to enable increased operational efficiency, which is vital to this shift. With the Core JV platform, we will upgrade the assets as required, and add sustainability elements, to ensure that we offer the same product quality to our customers as we do for products that we develop ourselves.”
ESR India, part of the ESR Group, is a leading developer and manager of industrial and logistics real estate with assets under management of approximately US$1.7 billion and over 18 million sq. ft. of GFA.
About ESR
ESR is APAC’s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With over US$140 billion in total assets under management (AUM), our fully integrated development and investment management platform extends across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand, and Southeast Asia, representing over 95% of GDP in APAC, and includes an expanding presence in Europe and the U.S. We provide a diverse range of real asset investment solutions and New Economy real estate development opportunities across our private funds business, which allow capital partners and customers to capitalize on the most significant secular trends in APAC. ESR is the largest sponsor and manager of REITs in APAC with a total AUM of US$45 billion. Our purpose – Space and Investment Solutions for a Sustainable Future – drives us to manage sustainably and impactfully and we consider the environment and the communities in which we operate as key stakeholders of our business. Listed on the Main Board of The Stock Exchange of Hong Kong, ESR is a constituent of the FTSE Global Equity Index Series (Large Cap), Hang Seng Composite Index and MSCI Hong Kong Index. More information is available at www.esr.com and www.in.esr.com.
About GIC
GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital and infrastructure. Its long-term approach, multi-asset capabilities and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 1,900 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg or follow on LinkedIn.
19 Jul 2022 | ESR India News
ESR India leases 309,000 sq. ft warehousing space for Croma’s biggest Distribution Centre in North India
ESR, Asia Pacific’s largest real estate asset manager powered by the New Economy, has leased 309,000 sq. ft. of prime warehousing space to Tata Croma, India’s first and trusted Omni-channel electronics retailer from the Tata Group. With Croma’s strong vision to become the no 1. Omnichannel electronics retailer in the country, this facility will help scale their logistics operations and optimise delivery timelines to cater to the North India market, mainly NCR, Haryana, and parts of Uttar Pradesh.
Croma’s distribution centre is within ESR Sohna Logistics Park, a 76.84-acre development strategically located inside the KMP loop and will ease and effectively optimise the last-mile delivery challenges in Delhi and neighbouring regions. The park has congestion-free access to Delhi, Gurugram and Noida, and parts of Haryana and Uttar Pradesh, accessibility to a skilled workforce from adjoining villages and proximity to the urbanisation cluster of Gurugram & Faridabad.
Sohna is poised to become the most strategic warehousing destination in the north. Recent and upcoming infrastructure developments will aid the region's accessibility and enable quicker access to Delhi NCR. The
21 km Sohna elevated road will provide signal-free access from Gurugram to Sohna, and once fully operational, this road will reduce travel time by 15-20 mins. The stretch from Badshapur to Sohna is already operational, and the connection between Rajiv Chowk and Badshapur, has opened this month, making this route the fastest connection between the distribution centre and Gurugram and Delhi.
Abhijit Malkani, CEO, ESR India stated, “We are thrilled to welcome Croma, India’s trusted and leading electronics retailer to ESR Sohna. ESR is committed to building institutional-grade facilities to boost the country’s supply chain operations and in optimising the last-mile delivery for e-commerce players and retailers. This Grade A green building will help Croma scale its operations in North India, implement automation, create long-term value chain at a future-ready sustainable space that benefits the environment and the community."
Mr. Avijit Mitra – MD & CEO, Croma Infiniti-Retail Ltd., said “We at Croma, believe in getting closer to our customers and serving their electronic needs in a reliable and fast manner. The opening of DC at ESR Sohna at Gurgaon is a step in that direction as we expand our presence in NCR.”
This Park will be integrated with the ESR India app for digital facility management and is pre-certified Platinum by IGBC (Indian Green Building Council). ESR Sohna is energy, water, material and waste-efficient and will embody ESR's ESG best practices.
12 Apr 2022 | The Times of India
ESR leases 43,000 sq.ft. industrial space to A2Mac1 in Chennai
ESR, Asia Pacific’s largest real asset manager powered by the New Economy, has leased 43,000 sq. ft. of prime industrial real estate to A2Mac1, the worldwide leader in the competitive benchmarking industry and reverse engineering for the automotive sector. The property is primely located in Oragadam, which is also known as The Detroit of India as it houses seven of twenty global automobile manufacturers, hence providing the ideal ecosystem for A2Mac1.
ESR ORAGADAM INDUSTRIAL & LOGISTICS PARK
10 Nov 2021 | Money Control
ESR India acquire 44 acres to expand Oragadam industrial park in Chennai
ESR, an Asia-Pacific-focused industrial and logistics real estate platform, said on November 10 it added 44 acres to its industrial park in Chennai and will invest Rs 260 crore for its construction and development.
It takes the total land acquired by the company in Chennai’s Oragadam to 80 acres. The company acquired 36 acres in July 2020.
“We are thrilled to expand our operations in Oragadam, which has emerged as a renowned destination for indigenous as well as global companies wanting to expand their operations in India,” said Abhijit Malkani, CEO & Country Head of ESR India.
Located on state highway-48, on Oragadam- Walajabad road, ESR Oragadam Industrial and Logistics Park is well-connected by air, road, rail, and ports.
Referred to as “Chennai’s growth corridor”, Oragadam is a hub for automobile, auto-ancillary, renewable energy, electronics, aerospace and defence businesses. It also houses research and development centres and third-party logistics companies
23 Jul 2021 | ET Auto
ESR India to invest about INR 300 cr on industrial park in Gujarat
The proposed park will cater to expansion and consolidation needs for engineering, electronics, energy, construction, machinery, automobile, auto-ancillary, e-commerce, and 3PL companies in the region. The park is well connected to Delhi-Mumbai Industrial Corridor, Kandla Mundra, ICD Khodiyar and Thar Dry Port.
ESR Jalisana
24 Jun 2021 | Live Mint
ESR leases 108,000 sq. ft. industrial space to CUBIC in Chennai
ESR Oragadam is a 36-acre industrial and logistics park. Oragadam houses over 22 Fortune 500 companies and is a hub for automobile, auto-ancillary, third-party logistics, electronics, energy, aerospace and defence firms
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19 Apr 2021 | The Economic times
ESR leases 108,000 sq. ft. industrial space to CUBIC in Chennai
This will be the European company’s first manufacturing facility in India that will provide products and solutions for a wide range of sectors such as marine, infrastructure, power, manufacturing, renewable energy, offshore, mining, and data centres across the country.
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19 Apr 2021 | The Economic Times
ESR leases 108,000 sq. ft. industrial space to CUBIC in Chennai
This will be the European company’s first manufacturing facility in India that will provide products and solutions for a wide range of sectors such as marine, infrastructure, power, manufacturing, renewable energy, offshore, mining, and data centres across the country.
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09 Mar 2021 | Business Standard
ESR announces its plan to develop a 38 acres industrial & logistics park in Chakan near Pune, Maharashtra
ESR is the largest APAC focused logistics real estate platform by gross floor area (GFA) and by value of the assets owned directly and by the funds and investment vehicles it manages.
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09 Mar 2021 | The Economic Times
ESR announces its plan to develop a 38 acres industrial & logistics park in Chakan near Pune, Maharashtra
This facility, spread over 38 acre, will serve as the hub for light manufacturing and logistics operations in the western region of the country, the company said in a statement.
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22 Dec 2020 | The Economic Times
GIC and ESR establish US$750 million joint venture to invest in industrial and logistics real estate in India
The joint venture will develop and own institutional-grade, state-of-the-art industrial and logistics facilities as well as acquire core assets, focusing on tier 1 and tier 2 cities across India, the companies said in a release.
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22 Dec 2020 | Business Standard
GIC and ESR establish US$750 million joint venture to invest in industrial and logistics real estate in India
Sovereign wealth fund GIC announced a joint venture with the Hong Kong-headquartered ESR Cayman to form a $750 mn joint venture which will develop and acquire industrial and logistics assets in India.
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06 Nov 2020 | Business World
ESR India inks MoU with the government of Maharashtra to invest 4,310 crores
Agreement was entered as a part of magnetic Maharashtra 2.0 initiative which has a target to bring investment of rupees one lakh crores to the state.
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04 Nov 2020 | Live Mint
ESR India inks MoU with the government of Maharashtra to invest 4,310 crores
The affiliation with the Maharashtra government is aimed at encouraging industrial development in the state with streamlined land acquisition and administrative processes
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04 Nov 2020 | Live Mint
ESR India inks MoU with the government of Maharashtra to invest 4,310 crores
The affiliation with the Maharashtra government is aimed at encouraging industrial development in the state with streamlined land acquisition and administrative processes
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20 May 2020 | The Economic Times
ESR India launches mobile app for contactless industrial & logistics parks management amidst COVID-19
The ESR India app enables safer park management, digital execution of service requests, and has integrated features to combat the spread of coronovirus. The app enables contactless park entry with a digital submission of mandatory health declaration and thermal scanning at the entrance.
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13 Mar 2020 | The Times Of India - Impact
MSME Event
Howrah to bag ₹12kcr investment in few yrs
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27 Jan 2020 | Business Standard
ESR announces its plan to develop new warehousing destination in Sohna
ESR on Monday said it has acquired 76.84 acre of land in Gurugram, Haryana to develop a logistic park.
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10 Jan 2020 | Financial Express
GMR forms JV with ESR to build logistics park in Hyderabad for ₹550 cr
The GMR Group is one of the older, well-established players in the airports infrastructure space. The infrastructure conglomerate, which has presence in energy, transport and urban infrastructure sectors, has recently met with aggressive competition from newer players in airports infrastructure including the Adani Group.
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09 Jan 2020 | Business Standard
GMR forms JV with ESR to build logistics park in Hyderabad for ₹550 cr
ESR and GHAL have entered into a definitive agreement with an equity interest of 70 per cent and 30 per cent respectively in the SPV-GMR Logistics Park Private Limited
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