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ESR Group, a prominent player in the real estate services and investment sector with a focus on the Asia Pacific region, is gearing up to establish a massive logistics park spanning a whopping 1.4 million square feet in Nagpur. The Hong Kong Stock Exchange-listed company has secured 58 acres of land for this ambitious project. With an investment exceeding 2400 crore, ESR Group is all set to construct and develop the cutting-edge warehousing hub, named ESR Nagpur Logistics Park 2. This marks the company's second logistics park in Nagpur and a remarkable twentieth addition to its portfolio in India.
The logistics park is meticulously designed to house ten distinct buildings, with each structure ranging in size from 67,000 square feet to 190,000 square feet, strategically catering to a wide spectrum of tenant requirements. These needs span across various sectors, including e-commerce, third-party logistics (3PL), retail, and fast-moving consumer goods (FMCG).
Abhijit Malkani, CEO of ESR India, emphasized the company's commitment to continued investment in this top-tier asset, building upon the resounding success of their inaugural venture, ESR Nagpur Logistics Park 1. The first park, sprawling over 22.5 acres, has been operating at full occupancy since its completion in 2020, attracting high-profile tenants from the retail and e-commerce sectors.
Malkani remarked that ESR's investment in this new grade A asset builds upon the robust response to their first logistics park in Nagpur, a flagship 22.5-acre development, ESR Nagpur Logistics Park 1, which has been operating at full occupancy since completion in 2020.
ESR Group's strategic vision involves harnessing the advantageous positioning of Nagpur and addressing the surging demand for new economy spaces with this second logistics park in the city. The new logistics facility is poised to meet the diverse expansion requirements of e-commerce, retail, and third-party logistics (3PL) services. The transformation in the Nagpur logistics market, primarily driven by heightened consumer demand, underscores the significance of ESR Group's latest development in the region.
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