e-Shang Redwood (ESR), Asia Pacific-focused logistics developer, has commenced its first project in India, an industrial and logistics park in Chakan MIDC (Maharashtra Industrial Development Corporation), Pune.
ESR CHAKAN 1, which will come up at an investment of Rs 350 crore, is a 1.2 million sq ft logistics park that will offer both build-to-suit (BTS) solutions and standardised facilities.
ESR India co-CEO Abhijit Malkani, said, “India’s industrial and logistics real estate market is flourishing, thanks to the continued growth of e-commerce and consumption, as well as robust industrial demand. Over the last 18 months, ESR has made great strides in introducing global best practice and institutional-grade facilities to the market.”
Jai Mirpuri, co-CEO, ESR India, said, “ESR CHAKAN 1 represents a new milestone in addressing pent-up customer demand for worldclass industrial and logistics capabilities in India.”
Warburg Pincus-backed ESR is one of Asia’s largest developers and operators in logistics and warehousing and was formed by the merger of e-Shang Cayman Ltd and Redwood Group Asia Pte. Ltd in 2016.
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