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Property consultant CBRE to hire 3,000 employees in India for expansion
Business Standard  |  March 15, 2019

Press Trust of India New Delhi

Global property consultant CBRE will hire 3,000 employees across India this year for business expansion, its country head Anshuman Magazine said.


CBRE's India revenue grew 20 per cent during 2018 and expects to maintain its growth even in 2019, he said, but did not disclose the turnover figure.


The consulting firm has entered into housing brokerage and now plans to expand this business in a big way, Magazine, chairman and CEO of India, South East Asia, the Middle East and Africa, CBRE said.


"We are a growing service firm and the only asset we have is people. Therefore, we have been hiring the best talent available in the market since last few years, he told reporters while launching its new headquarter at Gurugram.


"In 2019, we expect to hire 3,000 people across India to meet our growth requirement," Magazine said.


At present, CBRE India has around 8,300 employees who provide various services in the real estate sector.


These services include that of advisory and transaction capital market, project management, consulting and valuations, facilities and property management.


On housing brokerage, Magazine said, the company is selling flats in major cities of South and West India with sale force of 75 people.


"We want to grow this business as there is a huge scope. But, we will be cautious in our approach and market projects of only credible developers," he said.


In housing brokerage business, CBRE will be competing with the likes of Anarock, PropTiger, JLL India, Quikr, Square Yards, 360 Realtors, Investor Clinic and Wealth Clinic, among others.


Magazine noted that warehousing, co-working, co-living, student housing, healthcare, education and hospitality sectors are the new asset class where one can expect growth going forward.


We expect institutional investment in these sector apart from regular inflows in housing, office and retail assets, he said, adding that warehousing and logistics sector is already attracting huge investment post GST.


On the property market, Magazine said, the commercial sector is doing well and housing segment is showing signs of improvement.