ESR Group Leases Space to UPM Raflatac in MMR Industrial Park

New Delhi, July 16 (PTI) ESR Group has given on lease 48,800 square feet of space to UPM Raflatac, a sustainable labelling solutions provider, in its industrial park in Mumbai Metropolitan Region (MMR).

UPM will use this space in ESR Taloja Industrial and Logistics Park to serve its growing customer base in India and achieve higher efficiency in their operations, ESR said in a statement on Tuesday.

Helsinki-based UPM Raflatac offers a wide range of pressure-sensitive label materials for various applications, from food and beverage packaging to pharmaceuticals and industrial labelling.

The new space will provide them with a modern and efficient facility to streamline their operations, including warehousing and distribution.

Situated near the JNPT port and well-connected to Mumbai, Navi Mumbai, and Thane, the park, which is spread over 90-acre (close to 365,000 square metres), offers excellent access to key transportation routes.

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."

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

ESR Group is Asia-Pacific's leading new economy real asset manager and one of the largest listed real estate investment managers globally. Its fully integrated fund management and development platform extends across Australia/New Zealand, Japan, South Korea, Greater China, Southeast Asia, and India, including a presence in Europe and the United States.