60 Environmental, Social and Governance Report 2023 PILLAR 2: PROPERTY PORTFOLIO The Group is committed to developing assets in strategic locations, with a sustainability focus on-site selection, efficient design, green construction, and energy-efficient operations. As APAC’s leading real asset manager powered by the New Economy and one of the largest listed real estate investment managers, we have built a significant presence in major consumer markets with established transportation networks. Securing assets in key strategic locations provides our customers with faster speed to market, opportunity to reduce transport costs and related carbon emissions, as well as strengthen their supply chain resilience in the long run. We strive to position our assets close to urban infill locations in markets where barriers to entry are high, supply is limited, and demand is robust. We also adopt a sustainable approach by upgrading existing facilities, redeveloping properties to enhance connectivity with public infrastructure and lowering transport-related emissions. As customer proximity is key, strategic site selection with a preference for infill areas close to infrastructure, customers and transportation is essential to our business success. In 2023, ESR has completed the construction of ESR Fenhu Modern Industry and Service Park in the heart of the Yangtze River Delta. This facility, strategically located in the Wujiang Fenhu Economic Development Zone, supports global industrial and supply chains. With a total area of 221,568 sqm, the park caters to manufacturing, e-commerce and retail sectors. It features sustainable measures such as rainwater harvesting, grey water recycling, LED lighting with plans for a rooftop solar power system. ESR Fenhu Park is a comprehensive hub for e-commerce retailers, promoting advanced manufacturing and industrial supply chains. The facility provides ample space, high ceilings and advanced security systems to meet tenant needs. Strategic Locations ESR Fenhu Modern Industry and Service Park As highlighted in the earlier section on Sustainable & Efficient Operations, the Group has partnered with Chinachem Group to construct the Hong Kong’s largest cold storage and logistics facility in Kwai Chung, which is scheduled for completion by 2027. The facility will feature state-of-the-art amenities and sustainable design, including green building standards and electric vehicle charging points. As connectivity improves within the Greater Bay Area, the Hong Kong market will be exposed to approximately 85 million people. Due to the strategic location and convenient accessibility to Hong Kong’s central business district, international airport and mainland China border, the facility is poised to meet the escalating demand for expansive logistics space while making a substantial contribution to the region’s economic growth.
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