ESR India Investments Holdings, a subsidiary of Asia Pacific’s leading logistics real estate platform ESR, announced a strategic alliance with Future Group through Future Market Networks Ltd . It is estimated that an investment of nearly Rs.300 crore (approximately US$42 million) shall be made to develop two state-of-the-art industrial and warehousing parks to service the northern and central regions.
This collaboration is aimed to set new standards for the warehousing and industrial real estate sector and benefit from the burgeoning e-commerce growth in these regions. The two sites, with a total area of approximately 75 acres and a developable area of approximately 1.3 million sq. ft. will be jointly developed by Future Group’s Future Market Networks Ltd. and ESR, with ESR as the majority partner. The projects will deliver institutional grade facilities, aligning with ESR’s best-in-class modern technologies and know-how.
Kishore Biyani, Group CEO, Future Group stated, “We are enthusiastic about our alliance with ESR to develop state-of-the-art industrial and logistics infrastructure. ESR shall bring in their expertise to develop these strategically located assets to service India’s rapidly growing logistics industry. Through this partnership we are committed to deliver the highest standards of design, construction and operation of warehouses to ensure that these parks address market demand for first-rate logistics solutions.”