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Tag: Colliers

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Colliers India Brokers 1.6-Acre Land Deal in Bengaluru’s Sarjapur for Concorde Group

Jun 28, 2024 by Sujata 0 Comments #Bengaluru, #Colliers, #Concorde Group

Bengaluru, India, 28 June 2024: Concorde, a leading Bengaluru-based real estate developer has acquired a prime 1.6-acre land parcel located on Sarjapur Road, Bengaluru. Set to be a premium residential complex, this joint development will have a gross development value (GDV) of ₹200 crores. The strategic acquisition was facilitated by well-known real estate consulting firm, Colliers India, and marks a significant milestone for Concorde as it continues to expand its footprint in the city.

The Colliers team was instrumental in conducting a market analysis that assisted in identifying a suitable space that aligned with Concorde’s business objectives and vision. The leading real estate consulting firm held strategic rounds of negotiation with all parties involved to arrive at a deal structure that served the best interests of the landowner and developer.

The proposed project will comprise 2 & 3 BKH units, spread over a high-rise tower of ~2.25 lakh sq.ft. Its strategic location on the Sarjapur main road ensures excellent connectivity and convenience for residents. The upcoming project will feature smart and tech-enabled elements for enhanced security and energy conservation through home automation. Additionally, it will include an Evolve signature clubhouse with world-class amenities, adhering to Concorde’s SMART philosophy.

Commenting on the initiative, Nesara B S, Chairman, Concorde said, “We are thrilled to bring another landmark development to Sarjapur Road. This acquisition reinforces our commitment to delivering innovative and high-quality living spaces that meet the evolving needs of modern homebuyers in strategic locations. With the support of Colliers India, we were able to structure a deal that benefits both the landowners and our development goals.”

“Concorde is building homes of the future with projects that boast modern architecture and tech-infused features, and our team is proud to have facilitated this transaction. By formulating the correct structure, we were able to meet the business requirements of the developer and landlord. With our strong industry relations and long-standing ability to deliver bespoke solutions, we consistently drive success for our clients and the overall real estate sector.” added Piyush Gupta, Managing Director, Capital Markets & Investment Services, Colliers India.

Sarjapur Road boasts excellent connectivity to key IT hubs such as Whitefield, Electronic City, Outer Ring Road, Marathahalli, and Koramangala. The area’s infrastructure is set to improve further with the completion of Namma Metro’s phases two and five, and the proposed 74km Peripheral Road. This region has experienced the highest growth in connectivity, making it an ideal location for residential and commercial development.

Srikanth Nookala
business

Colliers hires another industry leader to strengthen its office leasing capability in West India

May 17, 2022 by Rekha Nair 0 Comments #Asia, #Chief Executive Officer, #Colliers, #India and Managing Director, #Market Development, #Ramesh Nair, #Srikanth Nookala

MUMBAI, INDIA, MAY 17, 2022 – Leading diversified professional services and investment management firm Colliers (NASDAQ and TSX: CIGI) today announced the appointment of Srikanth Nookala as Senior Director for its Office Services teams based in Mumbai, effective immediately. Srikanth joins from JLL India to further strengthen Colliers’ capabilities in the region.

Bringing his diverse expertise across the real estate sector, Srikanth will collaborate with Office Services senior leaders in Mumbai to nurture new client opportunities and provide innovative services while expanding our existing client network.

An industry expert and trusted industry leader with more than a decade of experience, Srikanth has a track record of driving exceptional results for clients. Prior to this, Srikanth headed Strategic Consulting for West India and also was Head of India for the Centre of Excellence function at JLL. Earlier in his career, he has worked with firms like McKinsey & Company and Barclays.

With a track record of advising and servicing many large clients, Srikanth is also an expert in identifying strategies to drive business growth. He has spearheaded numerous growth initiatives for JLL India as a senior internal strategist in the CEO’s office. He has experience in business development, client relationship management, strategy, corporate development (M&A and partnerships) and business transformation.

Srikanth has been a frontrunner for driving innovative strategies leading to business transformation as a market leader. As part of the office services team in Mumbai, he will collaborate with Office Services senior leaders in Mumbai to nurture new client opportunities and provide innovative services while expanding Colliers’ existing client network. As a local market expert, he will drive exceptional results for clients and Colliers.

Ramesh Nair, Chief Executive Officer, India and Managing Director, Market Development, Asia, Colliers, commented: “I am delighted to welcome Srikanth to the Colliers team to drive the business growth of our office leasing business in Mumbai. Srikanth is a great collaborator and has been instrumental in building and driving customized client solutions enabling all stakeholders to make important business decisions. In our journey of building an exceptional talent pool of motivated high performers, I am excited to onboard experts like Srikanth who are goal-oriented with a client-focused approach to enhance our value proposition”. 

Srikanth Nookala added: “I am thrilled to join Colliers’ fast-growing Office Services business and be a part of the firm’s exciting growth journey. The office real estate segment is witnessing a strong bounce back post COVID-19. What makes it interesting is the shift in occupier expectations to support the ongoing revolution in Ways of Working. I hope I will be able to add value to clients by tapping on my years of experience in real estate, management consulting and investment banking. I am looking forward to begin working alongside some of the industry’s best and brightest”.

business

Colliers ropes in three senior experts to further strengthen its service capabilities in Mumbai

Jan 20, 2022 by Gouri 0 Comments #Colliers, #Harshada Pimpalkhare, #Kunal Kedari, #professional services and investment management firm Colliers (NASDAQ and TSX: CIGI), #Sunny Madnani

(L-R) - Kunal Kedari, Harshada Pimpalkhare and Sunny Madani_Colliers India_20th January 2022

MUMBAI, INDIA, January 20, 2022 – Leading diversified professional services and investment management firm Colliers (NASDAQ and TSX: CIGI) today announced the appointment of three senior executives, who have joined Colliers’ office in Mumbai, as part of its aggressive business growth and expansionary plan. Previously with JLL India, these industry veterans have a brilliant track record of leveraging their expertise to drive exceptional results for their clients.

An industry expert and trusted advisor to several large occupier clients, Kunal Kedari, joins Colliers as Executive Director, Office Services, Mumbai. Kedari has a proven track record of delivering large real estate transactions involving some of the most prominent Indian and global occupiers. He is deft at maximising transaction opportunities by investing in client relationships, as well as providing innovative and exceptional service.

Bringing to Colliers almost two decades of extensive industry experience, Harshada Pimpalkhare will join Colliers as Senior Director, Business Development, Project Management Services. Pimpalkhare will lead business development for corporate fit-outs for India and base build for West India. With her high proficiency in business development and design management, Pimpalkhare will aggressively support the acquisition of new clients and build a strong client base, across all service lines for Project Management. She has conscientiously built a strong and wide network of clients over the years.

Sunny Madnani has been appointed as Director, Office Services, Mumbai, and has 10 years of experience in the commercial real estate sector in Mumbai. He is an enterprising real estate professional who is known to provide actionable market insights to his occupier clients. He is also a results-oriented expert and his innovative and bespoke approach to client servicing would play an integral role in accelerating the success of Colliers’ clients in Mumbai.

Ramesh Nair, CEO, India and Managing Director, Market Development, Asia, Colliers commented, “I am excited to welcome these industry experts to our Office Services and Project Management teams in Mumbai. Mumbai and the Western region of India are our strategic focus areas, where we have been aggressively investing in industry-leading talent. I am confident that with their strong expertise and enterprising spirit, our business in West India will leap forward by miles. We are looking to strengthen our capabilities with a broader range of services to better serve the evolving needs of our clients. With the joining of senior experts like Harshada, Kunal and Sunny, we are well poised to lead the industry in the West India market to maximise the potential of the property to accelerate the success of our clients”.

 

 

Real Estate Sector on Repo Rates
business

In 2021, Indian real estate has gained significant amount of the lost ground: Colliers

Dec 27, 2021 by Gouri 0 Comments #Asia, #Colliers, #Colliers India, #Indian real estate, #Ramesh Nair, #real estate, #Vimal Nadar

Occupier confidence has improved in the latter half of 2021 with occupiers closing large office deals, cementing the resilience of the sector and the underlying importance of offices. Occupiers remain focused on enhancing the well-being and experience of their employees as they plan to return to the office, chasing lucrative leases while realigning long-term plans. Developers are determined towards asset enhancement through requisite retrofit to remain relevant and retain tenants.

“The year 2021 was a watershed moment for India’s real estate sector. Even when the going was tough, the sector not only remained resilient but also emerged stronger than expected. India’s office sector is coming out of the woods, with demand back to pre-record levels. The year 2022 will even be better, even if marred by the new Covid-19 variant. We have now learned to live with uncertainty. Gross absorption in 2022 should be about 15-20% higher than this year as occupier confidence is back in the market. In terms of global capital chasing real estate, the office will continue to remain a dominant sector, but residential and industrial & warehousing will strengthen in 2022 aided by strong business fundamentals,” said Ramesh Nair, CEO, India and Managing Director, Market Development, Asia, Colliers.

From the second half of 2021, technology players and flex space operators have been taking large spaces. Occupiers who had earlier focused on renewing deals are now looking at new leases. As employees return to the workplace, next-generation offices replete with health and wellness features are a top draw for occupiers.

Segments that beat market expectations

During the year, some segments surpassed market expectations, led by a tectonic shift in preferences and behaviour of occupiers, homebuyers and investors. We look at some of the segments that have emerged strongly in 2021.

Flex space growing, but not just in top cities

Flex workspaces are leasing spaces backed by occupiers’ back-to-work plans and pre-commitments. Flex spaces have come to the fore after a gap of a year, to occupy a significant share in leasing at 16-18% in 2021. Total flex stock in metro cities is likely to rise to about 40 million sq feet in 2021. Tier-II cities are witnessing increased growth of flex spaces. Flex spaces stock in tier II cities is estimated to have grown more than two-fold this year to 5.5 million sq feet.

Investments in residential make a comeback

The residential segment saw strong recovery gains led by government stimulus, market-led price discovery, new demand. Investment volumes in the residential sector made a comeback in 2021. In the first nine months of the year, investments in the residential sector stood at USD420 million, surpassing the volumes seen in the whole last year. Investors are seeking a buy-in in the asset class, especially in the near-completion stage. Investments are spurred by renewed residential demand, led by a higher inclination to own homes, low home loan rates and steady prices.

Industrial investments inch towards USD1 bn

The industrial segment is likely to see investments inching towards USD1 billion in 2021, led by large global investors buying ready and greenfield warehousing projects. Since last year, investors have been exploring industrial space. While data centres gained traction this year from developers and investors, this year also saw the maiden investments deal in the life sciences sector.

“Despite a devastating second wave, investments into the real estate sector have been unwavering, especially from global investors. Interestingly, investors are also betting on new-age sectors like life sciences and data centres. As per a recent Colliers survey, industrial and logistics assets will be the most sought-after real estate assets in the APAC region, with more than 20% of investors anticipating capital value gains of 10%-20% in value-add assets in 2022, supported by tailwinds and large-scale economic transformation. This shows the immense potential. Moreover, the centre’s new warehousing policy has the potential to transform the warehousing sector to make it more competitive. Overall, the sector’s resilience and growth will give way to more innovation next year, in accordance with the changing times we live in, says Vimal Nadar, Senior Director and Head of Research, Colliers India.

Overall, the real estate sector will see stakeholders pivoting to different models, resetting to the new way we work, live and entertain. Developers, investors and buyers will work towards bringing in sustainability and cutting carbon emissions. The market will also see gains from sectors such as Electric vehicles, solar panel manufacturing, etc in the coming years.