ESR Group Limited Annual Report 2023 19 Property People Partnership Capital Management Sustainability REIT Market Update ESR Thailand commenced the construction of the built-tosuit development of Nasdaq-listed Advanced Energy’s flagship factory within the ESR Asia Laem Chabang industrial estate. ESR India expanded its footprint in Nagpur by acquiring a 58acre land for the development of ESR Nagpur Logistics Park 2 in India's emerging warehousing hub. ESR raises additional third-party equity for the last phase of landmark 650,000 sqm multi-billion ESR Higashi Ogishima Distribution Centre in Greater Tokyo. October September ESR Australia and Solar Bay form Australian-first renewable energy partnership to invest up to A$500 million in renewable energy infrastructure over the next decade. ESR China completed the approximately 344,840 sqm phase one of its largest development project in China, ESR Qingpu Yurun Logistics Park, in Shanghai, providing one-stop cold and dry storage solutions for tenants. ESR Indonesia commenced construction of ESR Karawang Logistics Park 1, the first Grade A facility in Karawang, Indonesia. ESR India expanded into Odisha with the acquisition of a 57-acre land in Cuttack for the development of ESR Cuttack Logistics Park, the region's only institutional-grade facility with Grade A specifications. ESR’s core joint venture in Japan closed JPY 59 billion Trust Asset-Backed Loan. ESR and Chinachem break ground on Hong Kong’s largest and most advanced cold storage facility, Kwai Chung Cold Storage Logistics Centre. CORPORATE HIGHLIGHTS ESR received first-time investment grade ‘AA-’ rating with stable outlook from the Japan Credit Rating Agency, Ltd ("JCR"). ESR debuted a JPY30 billion bond issuance, backed by 'AA-/ stable outlook' JCR credit rating. ESR unveiled its ESG 2030 Roadmap, reaffirming commitment to accelerate long-term sustainable growth. ESR achieved top recognition in the 2023 GRESB assessment, the leading global environmental social and governance benchmark for real estate and infrastructure investments. ESR boosted its senior leadership team with the appointments of Mr Josh Daitch as Group Chief Investment Officer and Mr Matthew Lawson as Group Chief Operating Officer. ESR appointed Ms Joanne McNamara, Executive Vice President, Head of Europe, for Oxford Properties Group, as a Non-executive Director to the Group's board of directors, with effect from 1 January 2024. November ESR and Chinachem closed Hong Kong’s first-ever HK$8.8 billion Green Loan for the development of a logistics centre (Kwai Chung Cold Storage Logistics Centre). ESR China completed the construction of ESR Langfang Baiyi Logistics Park located in the Langfang Guangyang Economic Development Zone in China's Hebei province. ESR Japan commenced the development of ESR Itami Distribution Centre located within the Greater Osaka area. December ESR Kendall Square completed the sale of Ilsan Distribution Centre, a fully leased data and logistics centre in Goyang, South Korea. The China Securities Regulatory Commission and Shanghai Stock Exchange received ESR's application for the registration and listing of AVIC ESR Warehouse Logistics Closed Infrastructure Securities Investment Fund. ESR entered the renewable energy market in South Korea by securing KRW14.7 billion funding from Korean Development Bank to install and operate over 13 MW of solar power capacity on seven assets owned by ESR Kendall Square REIT. ESR Japan Income Fund completed its first acquisition in Nagoya for JPY16.4 billion from an ESR-managed development fund. ESR and BW announced the ground breaking of a ready-built industrial facility strategically situated in Vietnam's Dinh Vu — Cat Hai Economic Zone in Hai Phong city. ESR China completed the construction of ESR Fenhu Modern Industry and Service Park which is at the heart of the Yangtze River Delta in China. ESR Qingpu Yurun Logistics Park, Shanghai, China STRATEGIC REPORTS CORPORATE GOVERNANCE FINANCIAL STATEMENTS
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