ESR acquires its first life sciences business park in Shanghai Zhangjiang Hi Tech Development Zone

ESR Group has made its strategic milestone entry into China’s biopharmaceutical R&D cluster in Shanghai.

ESR, together with its joint venture partner, has acquired a life sciences R&D business park for RMB 268 million ($40 million) in Zhangjiang, Shanghai. Formerly known as Zhangjiang NEO, the life sciences R&D business park is located at Shanghai Zhangjiang Hi-Tech Development Zone (Zhangjiang Pharma Valley Phase II), an R&D cluster to more than 600 life sciences companies, 150 R&D institutions, and seven of the world’s top 10 pharmaceutical companies. Strategically located at the heart of China’s best life sciences cluster, the business park has easy access to Shanghai’s central business districts, major hubs and public transportations and is a 25-minute ride to Pudong International Airport. The Zhangjiang NEO, with a total of 8,940 square meters (96,230 square feet) consists of two blocks of four- to five-story pharmaceutical R&D lab and off