New Delhi, 27 January 2020: ESR, the largest APAC focused logistics real estate platform, announced its plan to build a logistics park in ‘Sohna’ - Tehsil of South Gurugram. Sprawling over 76.84 acres, the site is in proximity of the international airport and business hubs of New Delhi, Gurugram and Faridabad. Poised to be one of the largest in the region, the park is expected to support last-mile delivery for national and global businesses with access to quality housing, retail malls, medical, educational facilities and a large talent pool, making it an ideal location for the next warehousing destination. With this investment, ESR expands its India footprint to 14 locations.
Speaking on the plan, Mr. Abhijit Malkani and Mr. Jai Mirpuri, Country Heads of ESR India stated, “ESR India is committed to building institutional grade logistics infrastructure to facilitate the development and modernisation of the nation's supply chain. The Sohna project is expected to bolster our portfolio of strategically located logistics properties, thereby enhancing ESR’s ability to support its clients’ business growth by catering to quick distribution needs in the surrounding areas.” .
Identified as New Gurgaon, Sohna has a huge geographical advantage and is poised to become the largest distribution hub in the region. The facility in Sohna is ideal for quick access into Delhi, Faridabad, UP, Gurugram and has good connectivity to the upcoming Delhi-Mumbai Freight Corridor, Delhi–Mumbai Expressway and the fully functional KMP-KGP expressway via Palwal. Scheduled for completion in 2023, the Delhi-Mumbai expressway, easily accessible from the location, will reduce travel time between the two cities to 12 hours from the current 22 hours. ESR acquired the land-parcel, formerly a part of keystone knowledge park, the first and only premier life science and technology ecosystem in Northern India, from the Mayar Group.
Mr. Malkani & Mr. Mirpuri added, “ESR Sohna will be well-positioned to cater to the needs of the expanding e-commerce industry with state-of-the-art infrastructure to aid advanced supply chain and logistics processes.”
Currently, e-commerce industry in India is facing a lot of challenges in terms of last-mile delivery with incremental cost of maintaining forward distribution points. With accessibility to skilled workforce from adjoining villages and proximity to urbanisation cluster of Gurugram & Faridabad, the last-mile delivery for Delhi NCR region will become more effective and in turn help create employment opportunities in the surrounding areas.
The Sohna facility will also be integrated with the ‘ESR smart mobile app’ to enhance client experiences and ensure seamless park management. ESR India parks are IGBC (Indian Green Building Council) Silver rated, with energy and water efficient designs to reduce environmental impact and operating costs for clients.
ESR is the largest Asia-Pacific 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. Co-founded by its senior management team and Warburg Pincus, ESR and the funds and investment vehicles it manages are backed by some of the world’s preeminent investors including APG, SK Holdings, JD.com, Goldman Sachs, CPPIB, OMERS, Ping An and Allianz Real Estate. The ESR platform spans across the People’s Republic of China, Japan, South Korea, Singapore, Australia and India. As of June 30, 2019, the fair value of the properties directly held by ESR and the assets under management with respect to the funds and investment vehicles managed by ESR recorded approximately US$20.2 billion, and GFA of properties completed and under development as well as GFA to be built on land held for future development comprised over 15.3 million sqm in total. ESR has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since 1 November 2019.