Savills wins project management mandate for ESR Chennai logistics park
This park is located in Oragadam's industrial belt and is well-connected via road, rail, air, and ports.
International property consultant Savills India has won the project management mandate for ESR, Asia Pacific's largest real estate asset manager powered by the New Economy, to manage the development of ESR's industrial and logistics park in Chennai.
This industrial and logistics park is located in Oragadam's industrial belt and is well-connected via road, rail, air, and ports. Oragadam houses over 22 Fortune 500 companies and features a well-established industrial and social ecosystem. The manufacturing corridor of Oragadam has become one of the preferred locations for leading PE-driven industrial and warehousing developers with a portfolio of over 10 million sq. ft.
Spanning 80 acres of land, ESR Oragadam has a development potential of 1.7 million sq. ft., Savills will manage phase 2 of this project, a total area of 8.53 lakh sq. ft. designed for Grade A built-to-suit and plug and play facilities. This park will further enhance Oragadam's existing industrial and social ecosystem with the potential to generate over 4,000 jobs in the region. Oragadam is also known for its availability of an experienced workforce within 5-15 km to support its industrial progress.
Sumit Rakshit, managing director, project management services, Savills India said, "We are honoured to be chosen as the partner for managing the project for ESR Oragadam Industrial and Logistics Park. We look forward to contributing with our in-depth market intelligence in the industrial and logistics sector and our commitment to going the extra mile to support ESR's global development standards."
Abhijit Malkani, CEO, ESR India stated, "Boosted by the creation of various manufacturing corridors with conducive ecosystems across micro-markets, India has become one of the most sought-after destinations for international companies who seek to accelerate their efforts in manufacturing, R&D and more. The unparalleled infrastructure of Oragadam coupled with Savills India's expertise in project management will, beyond a doubt, result in one of the most highly regarded developments in the industrial and logistics space."
ESR chose to award the mandate to Savills India based on the consultant's robust local knowledge, technical expertise, and strong project management process knowledge to manage the mammoth grade A development. Savills India has successfully managed several large-scale industrial and warehousing spaces and properties amid the ongoing pandemic.