ESR Group has announced the acquisition of an additional 27 acres of land in Oragadam, Chennai, for ₹276 crore (over USD 33 million), aimed at expanding its existing industrial and logistics park. This investment underscores ESR's commitment to enhancing Tamil Nadu's industrial landscape.
With this acquisition, ESR Oragadam Industrial and Logistics Park now spans 107 acres, offering a development potential of 2.5 million square feet. Strategically located in the burgeoning Oragadam-Sriperumbudur cluster, the park caters to the growing demand for Grade A industrial assets.
The expansion builds on the success of ESR Oragadam's first two phases, which have attracted high-profile tenants such as electromechanical solutions provider CUBIC, automotive R&D firm A2Mac1, and specialty labeling company CCL.
"ESR's expansion in Oragadam is a pivotal step in supporting Tamil Nadu's ambition to become a major industrial hub," said Abhijit Malkani, CEO of ESR India. "This project transcends Grade A industrial buildings, upgrading the supply chain with modern infrastructure and fostering a new era of advanced manufacturing and logistics."
Malkani emphasized ESR Group's dedication to innovation and sustainability, highlighting the integration of green building practices and sustainable infrastructure to minimize environmental impact.
ESR Group, Asia-Pacific's leading new economy real asset manager and one of the largest listed real estate investment managers globally, operates a fully integrated fund management and development platform across Australia/New Zealand, Japan, South Korea, Greater China, Southeast Asia, India, Europe, and the US. The group focuses on new economy real assets, providing modern solutions for logistics, data centers, life sciences, infrastructure, and renewables.
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