ESR Group Acquires Land in Nagpur to Build Logistic Park

ESR Group, a leading real estate developer, has announced plans to invest Rs 400 crore in the construction and development of a new logistic park in Nagpur, India. The company has acquired 58 acres of land in the city with a total development potential of 1.4 million square feet.

Details of the Project

The new logistic park, ESR Nagpur Logistics Park 2, will be the company's second logistics park in Nagpur and its twentieth park across the country. The park is designed to accommodate 10 buildings, with building sizes ranging from 67,000 sq ft to 1,90,000 sq ft to meet a broad spectrum of tenant needs, ranging from e-commerce to third-party logistics 3PL, retail and fast-moving consumer goods FMCG.

Benefits of the Project

The development of ESR Nagpur Logistics Park 2 is expected to boost the supply of modern Grade A logistics facilities within the Gondkhairi-Kalmeshwar logistics cluster. The park will create jobs and contribute to the local economy. Additionally, the project is expected to attract high-profile tenants from retail and e-commerce domains.

ESR Group's Commitment to India

ESR Group is committed to the growth of the Indian economy and has been actively investing in the country's real estate sector. The company has a total assets under management AUM of approximately USD 1.6 billion in India. ESR is also the largest sponsor and manager of REITs in APAC with a total AUM of about USD 45 billion.

ESR Group's investment in ESR Nagpur Logistics Park 2 is a testament to the company's commitment to the Indian market. The project is expected to have a positive impact on the local economy and provide much-needed modern logistics facilities to businesses in the region.