The Indian arm of Asia-Pacific logistics property group ESR has partnered with Future Group to develop two industrial and warehousing parks in Nagpur and Jhajjar.

ESR India Investments Holdings and the Indian retail conglomerate鈥檚 Future Market Networks plan to invest nearly Rs300 crore (鈧�37.8m) to develop the assets to service the northern and central regions.

ESR is a majority partner in the venture.

The two sites with a total area of 75 acres, has a developable area of 1.3m sqft.

Abhijit Malkani and Jai Mirpuri, country heads of ESR India, said the partnership will strengthen ESR鈥檚 presence in India to six cities and 鈥渨e expect this strategic alliance to expand further in several newer geographies in the next one to two years鈥�.

Jeffrey Shen and Stuart Gibson, co-founders and co-CEOs of ESR, jointly said: 鈥淭his strategic collaboration between Future Group and ESR India marks a significant development for both companies, as well as the logistics and industrial real estate sector in India.鈥�

Kishore Biyani, group CEO, Future Group said: 鈥淓SR shall bring in their expertise to develop these strategically located assets to service India鈥檚 rapidly growing logistics industry.鈥�

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