APAC real assets manager ESR has acquired 57 acres of land in India to develop a 1.2m sqft logistics facility.
ESR said it expects to invest INR360 crores (€40.3m) to develop the ESR Cuttack Logistics Park, which is the region’s only “institutional-grade facility with Grade A specifications”.
The multi-building facility is located in the eastern part of India and marks ESR’s entry into Odisha. The firm made its entry in the eastern region with the ESR Uluberia Logistics Park in Kolkata.
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.”
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