ESR Group Limited will develop ESR Higashi Ogishima Distribution Centre (Phase 2) in a prime land located in Greater Tokyo metropolitan area. The premium location of the land parcel, with an area of circa 6 hectares, sits in the Tokyo metropolitan area, 10 km to Haneda Airport, and is close to the port and central Tokyo, as well as the centres of Yokohama and Kawasaki city.  Its proximity and easy access to Bayshore Route makes it a convenient location for delivery routes across the urban areas stretching from Tokyo to greater Yokohama and inland Kanagawa areas.  This provides E-commerce, 3PL, cold storage and other leading businesses with the utmost convenience in transportation and connectivity. The planned development known as Higashi Ogishima Distribution Centre 2 ("HO DC 2") should commence works in 2025 and will be only marginally smaller than the inaugural HO DC 1, boasting a total of circa 306,000 sqm of GFA spread across 8 storeys.

Higashi Ogishima DC 2 will be broadly similar to its predecessor, featuring seismic-base isolation as well as the 'Human Centric' design that characterises all ESR large multi-tenanted projects with a daycare centre  (BARNKLÜBB) and recreational areas aimed at enhancing the well-being of the tenants' employees. It is expected that Higashi Ogishima Distribution Centre 2 will see incremental design changes in connection with ESR's sustainability agenda of maximising onsite energy production and fostering accelerated adoption of electrical mobility. Capital for the partial sell-down of the land and related development funding obligations is being provided under the ESR Japan Logistics Fund III ("RJLF 3"), a joint venture that ESR established in 2019.

RJLF 3 focusses on the development of premium large-scale logistics facilities in the major metropolitan areas of Japan. Its initial capital commitment of JPY 75 billion (USD 675 million) was upsized to JPY 150 billion (USD 1.35 billion) in 2021.