ESR India has inked an MoU with the government of Karnataka, envisaging a Rs 2,500 crore investment for setting up industrial and logistics parks, urban distribution centres, and data centres. It is one of the most significant investments to be made within a period of three years by a real estate developer in India.
This initiative will help generate 5,500 jobs in Karnataka. The memorandum of understanding was signed in Bengaluru during the Global Investors meeting.
The company will build multi-story facilities within city limits to ease in-city distribution and data centres to support India's growing digital economy. In addition, ESR will also invest in developing state-of-the-art industrial and logistics parks to enhance the state's warehousing capacity.
ESR India is currently present across 9 cities and 16 locations with a total GFA of 18 million sq. ft. These state-of-the-art facilities will be developed, upholding the best practices for ESG and sustainability.