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New Delhi , Oct 3

WITH a surge in demand for commercial and residential spaces in the two cities, CB Richard Ellis India today announced the opening of offices in Pune and Hyderabad.

"The demand in the office sector for these cities is coming from IT, ITES and BPO sectors. The activities in the retail and residential sectors are also increasing.

"In addition, the Government's announcement of relaxing FDI norms in the real estate sector is expected to open doors for much-needed investments in the realty sector across the country," said Mr Anshuman Magazine, Managing Director, CB Richard Ellis, South Asia, in a statement. The real estate consultant said that the demand momentum maintained by IT and ITES firms along with the upcoming retail malls and residential developments were the key drivers for real estate growth in Pune.

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