CBRE South Asia achieves milestone of 1 bn sq ft portfolio

In 2022, CBRE South Asia, a real estate consulting firm, achieved a significant milestone by surpassing a total portfolio of 1 billion sq ft area under the company's project management (PJM) business division. The total capital managed by the business division in 2022 amounted to US $14 billion, covering various service and sector categories. Among the sectors, residential emerged as the top contributor with a capital spend of USD 5.8 billion, followed by mixed use (USD 3.57 billion), office (USD 1.88 billion), industrial & logistics (USD 1.19 billion), and education (USD 0.13 billion). Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, highlighted the firm's evolution and adaptation to the challenges posed by the pandemic, stating, We have undergone a transition over the past several years as we adapted to the challenges of the pandemic and adopted new business practices. The expansion of the business division is aimed to enhance our scope of services and our footprint pan-India. Apart from the aforementioned sectors, CBRE also managed projects in healthcare, retail, data centres, and hotels. With a presence in 120 cities across India, the business team intends to extend its services to tier II cities such as Kochi, Indore, Chandigarh, Lucknow, Coimbatore, and Jaipur. The PJM business division, which currently comprises over 2,200 employees, plans to expand its workforce by approximately 30-40 per cent in new service lines and geographical locations throughout 2023. To improve efficiency and effectiveness, CBRE will emphasise the adoption and integration of technology. Tools such as Building Information Modeling (BIM), Virtual Reality (VR), and Augmented Reality (AR) will be utilised to enhance outputs in both new and existing services. Gurjot Bhatia, Managing Director, Project Management India, South-East Asia, Middle East, & North Africa, CBRE, explained the company's approach, stating, With the support of technical tools and organised processes, we collaborate with our clients at different phases of project needs to provide best-in-class services.