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ESR acquires 39 acre land parcel in Chennai

Thursday, 06 Aug 2020
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Logistics developer and operator e-Shang Redwood (ESR) has acquired 39 acre land parcel at Oragadam suburb in Chennai, Tamil Nadu, to develop an industrial park. 
The company has acquired the land parcel for a consideration of Rs 332 crore. The warehousing space is witnessing high demand and the pandemic has boosted the sector further. 
The developer is also in talks to acquire another 60 acre of land in Chennai and 40 acre in Lucknow, Uttar Pradesh. 
The company has recently made three major investments in Sohna, Haryana; Pune’s Chakan, Maharashtra and the latest is Chennai. Moreover, talks of two more acquisitions are in final stages. 
Chennai has 2,361 acre of warehousing land, the third largest in the country. 
The company is actively looking to acquire land in Tier-2 cities as well. In January 2020, it had acquired 76.84 acre to build a logistics park in Sohna, Gurugram.
ESR India has so far acquired 16.6 million sq ft of space in Mumbai, Pune, Ahmedabad, Chennai, Bengaluru, Hyderabad, NCR, Kolkata, Nagpur and Rajpura. 
The ESR platform spans across the People’s Republic of China, Japan, South Korea, Singapore, Australia and India.


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