ESR Group Leases 48,800 sq ft to UPM Raflatac in Mumbai Industrial Park

ESR Group has leased 48,800 square feet of space to sustainable labelling solutions provider UPM Raflatac in its Mumbai Metropolitan Region industrial park. This space will enhance UPM Raflatac's operations. ESR operates 22 industrial parks in India and is a leading new economy real asset manager in the Asia-Pacific region.

ESR Group has leased 48,800 square feet of industrial park space in the Mumbai Metropolitan Region (MMR) to UPM Raflatac, a sustainable labelling solutions provider. The new facility will aid UPM Raflatac's operational efficiency and serve its expanding customer base in India, ESR announced in a statement on Tuesday.

Headquartered in Helsinki, UPM Raflatac specializes in pressure-sensitive label materials for diverse applications, including food and beverage packaging, pharmaceuticals, and industrial labelling. The newly acquired space will help streamline operations like warehousing and distribution.

The industrial park, spread over 90 acres near the JNPT port, offers excellent connectivity to Mumbai, Navi Mumbai, and Thane. ''This expansion underscores our commitment to the dynamic growth of the Indian market,'' said Suresh Valecha, Country Manager of UPM Raflatac, India.

ESR Group, a leading asset manager in the Asia-Pacific region, manages 22 industrial and logistics parks in India, with total assets valued at USD 1.7 billion as of December 31, 2023. It operates globally, including in Australia, Japan, South Korea, Greater China, Southeast Asia, Europe, and the United States.