ESR, the largest APAC focused logistics real estate platform, has recently announced that it acquired 76.84-acre land in southern Gurugram’s Sohna to develop a logistics park.
The company said in a statement, “ESR acquired the land-parcel, formerly a part of keystone knowledge park, the first and only premier life science and technology ecosystem in Northern India from the Mayar Group.”
It is expected that the park will facilitate last-mile delivery for national and global businesses, especially e-commerce.
The statement added that with the new deal ESR has expanded its footprint to 14 locations in India. It also has operations in China, Japan, South Korea, Singapore, Australia, and India.
Co-founded by its senior management team and Warburg Pincus, ESR and the funds and investment vehicles it manages are backed by investors including APG, SK Holdings, JD.com, Goldman Sachs, CPPIB, OMERS, Ping An, and Allianz Real Estate.
Lately, logistic spaces in India are witnessing a rise with many new startups joining the race. Companies like Delhivery, Ecom Express have gathered hefty investments from Angel Investors and VC Firms like Tiger Global, and are creating a fast-paced environment in the field of delivery and logistics.
These new companies rely heavily on their ground-level working staff. Hence the logistics field is creating more and more jobs every now and then amidst a global economic slowdown.
