CBRE South Asia Pvt. Ltd, India’s leading real estate consulting firm, today announced the launch of a new integrated, data & technology-led solution platform – Development Solutions under its Project Management (PJM) business line. The offering is a customized, bespoke, and unique solution sought to address the challenges and opportunities that developers and investors face across the asset life cycle, going beyond the framework of traditional project management services.
Aimed at tapping into top developers and institutional investors, this premium offering from CBRE promises to deliver 10-12 % savings on project costs to its clients due to the seamless integration of multiple services. Further, the new service will provide developers with value propositions like asset life cycle improvement, superior data and technology-based decision-making, SME involvement and enhanced end-user experience. CBRE intends to capture 25-30% of market share in next 3 years. The current overall potential market size of this service line is estimated to impact 94 million sq. ft. across commercial, Industrial & Logistics and residential sectors.
Development Solutions will be an integrated service built with a combination of various niche services such as ESG-Sustainability, Cost Consultancy, Design Advisory & Design Management, Development Advisory, and Testing & Commissioning in different measures as per project requirements and client preferences.
As a first mover in this segment, CBRE aims to be the preferred technical advisor for Investors and Developers. This new solution gives an opportunity to get attached to a client at an enterprise level rather than on a project basis. Clients will benefit from CBRE’s deep local market knowledge, reach and depth across the globe, and leverage our experience on multiple data and technology solutions. CBRE has constituted a 300-member strong team under the Development Solution platform, which will have subject matter experts across India. The team strength will be doubled by year-end.
Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, “With Development Solutions, we have expanded our capabilities to cater to the specific needs of our investor and developer clients, providing them with a comprehensive suite of services. The service will offer a holistic approach to real estate development. Our team of experts will work together with developers and investors to deliver tailored solutions that maximize value, mitigate risks, and unlock untapped potential.”
Gurjot Bhatia, Managing Director, Project Management, India, Middle East, South-East Asia & North Africa, CBRE India, said, “Development Solutions isn't just an addition to our portfolio; it's a seamless integration that amplifies the impact of our existing project management services. By combining our extensive knowledge, industry insights, and innovative thinking, we are reshaping the future of real estate development."
CBRE’s PJM business team has a footprint across 120 cities in India. With the existing strength of more than 2,200 employees, the PJM business division plans to increase the headcount by around ~400 in this new service line this year. CBRE PJM’s verticals focus on ESG & Sustainability Consultancy, Design Advisory & Design Management, Capital Planning and Quality Management, along with the standard Project Management service offerings. The CBRE’s PJM business is equipped with tools such as Building Information Modeling (BIM), Virtual Reality (VR), and Augmented Realty (AR) which are being used for more efficient output.
