ESR leases 48,800 sq ft industrial space to UPM in Navi Mumbai

Mumbai, July 17, 2024: ESR Group Limited, New Economy real asset manager, has leased 48,800 sq. ft. (over 4,500 square metres (“sqm”)) of prime industrial real estate to UPM’s business unit UPM Raflatac, a world-leading sustainable labelling solutions provider. UPM will use this space in ESR Taloja Industrial & Logistics Park (“ESR Taloja”) to serve its growing customer base in India and achieve higher efficiency in their operations.

ESR Taloja Industrial & Logistics Park, Navi Mumbai

Suresh Valecha – Country Manager of UPM Raflatac, India, said “This expansion reflects our commitment to supporting the dynamic growth of the Indian market. Our growing business demands a human-centric space that aligns seamlessly with our sustainability objectives. ESR Taloja’s strategic location and state-of-the-art infrastructure will ensure efficient product flow and allow us to deliver exceptional service to our customers. Taloja’s impressive infrastructure and facilities will undoubtedly provide a dynamic environment for our employees. With India’s flourishing retail and industrial landscape, we eagerly anticipate expanding our business and exploring future growth possibilities.”

Abhijit Malkani, CEO of ESR India, said, “We take immense pride in extending a warm welcome to UPM. Our commitment to providing best-in-class space solutions aligns with UPM’s focus on growth and sustainability. The park’s Grade A+ sustainable infrastructure, pre-certified Gold by IGBC, synergises strongly with UPM’s eco-friendly solutions. This collaboration goes above and beyond operational efficiency – it empowers UPM to operate a sustainable supply chain operation, supported by ESR’s extensive New Economy development and asset management expertise.”

In India, ESR manages 22 industrial and logistics parks with total assets under management of US$1.7 billion and 2.8 million sqm of gross floor area as of 31 December 2023.