ESR expands into Odisha with land acquisition in Cuttack
ESR’s new state-of-the-art logistics park both harnesses and supports the region's rapid economic growth
India's ESR Group Limited, APAC’s largest real asset manager powered by the New Economy, has acquired 57 acres of land in Cuttack with a total development potential of 1.2 million sq. ft. and committed an investment of approximately INR 360 crores for the construction and development of ESR Cuttack Logistics Park, which is the region's only institutional-grade facility with Grade A specifications. The Park, which has gained prominence amongst India’s largest e-commerce and retail brands, presents a promising opportunity to cater to these escalating warehousing demands and to support the region's growth.
ESR Cuttack Logistics Park is a multi-building facility strategically located in Odisha, eastern part of India, where the availability of large scalable development sites is rare. This strategic move represents ESR's foray into Odisha, fortifying its position to build value for more customers in the eastern region following its first asset in Kolkata, ESR Uluberia Logistics Park. ESR Cuttack Logistics Park was acquired with one operational building, which is now fully leased and occupied by one of India’s largest e-commerce companies. ESR is on track to complete the construction of the second building. The Park is projected to accommodate six buildings.