CBRE announced surpassing total portfolio by 1 billion sq. ft. area under the CBRE’s Project Management (PJM) business division in 2022. The business division's total capital managed in 2022 was reported at US $14 billion across all service and sector categories.
The top five sectors that witnessed the highest capital spend managed by CBRE’s PJM business include Residential (USD 5.8 billion), Mixed Use (USD 3.57 billion), Office (USD 1.88 billion), Industrial & logistics (USD 1.19 billion), and Education (USD 0.13 billion). The other sectors managed were Healthcare, Retail, Data Centres and Hotels. The PJM business division has executed marquee projects for leading companies in IT/ITES, BFSI, manufacturing, logistics and warehousing, among others and has been associated with top occupiers, developers, and investors in the country.
CBRE’s PJM business team has a footprint across 120 cities in India and plans to expand its services in tier II cities like Kochi, Indore, Chandigarh, Lucknow, Coimbatore, and Jaipur. With the existing strength of more than 2,200 employees, the PJM business division will increase the headcount by approximately 30-40% in its new service lines and geographical locations in 2023.
CBRE PJMs newly hired team will focus on providing advisory services that add value to its customers portfolio. These services would focus on ESG & Sustainability Consultancy, Design Advisory & Design Management, Capital Planning, Quality Management, along with the standard Project Management service offerings that the division already offers. Adoption and Integration of technology will become more prominent and tools such as Building Information Modeling (BIM), Virtual Reality (VR), and Augmented Realty (AR) will be used for more efficient and effective outputs of the new and existing Services.
CBRE’s PJM business has been maintaining leadership position in maintaining a “zero-tolerance” approach towards unsafe construction practices on its project sites. CBRE PJM clocked over 125 million Safe Man-hours across its sites in 2022.
Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, “CBRE strongly believes in a “client-first” approach. We have undergone a transition over the past several years as we adapted to the challenges of the pandemic and adopted new business practices. Our company grew tremendously in 2022 in terms of the kind of services we offer, and our Project Management business division in the country has set new benchmarks. The expansion of the business division is aimed to enhance our scope of services and our footprint pan-India”.
Gurjot Bhatia, Managing Director, Project Management India, South-East Asia, Middle East, & North Africa, CBRE, said, “We at CBRE PJM strive to ensure that our customers' goals are accomplished with the greatest level of quality and safety. With the support of meaningful technical tools, organised processes, and non-negotiable adherence to health and safety regulations, we collaborate with our clients at different phases of project needs to provide best-in-class services”.
