The Hindu Business Line : Jones Lang LaSalle plans to increase headcount

COMMERCIAL real-estate services firm Jones Lang LaSalle today said that it is likely to look at more than a three-fold increase in headcount in the country to 3,000-4,000 professionals in the next five years, entailing an expansion of project management business and investment business, among other areas.

"As a growth company, we focus on activities in those parts of the world that have growth potential for us. Right now, the growth regions are Eastern Europe, India, China, and Japan. India is the fastest growing market globally, so we are focusing on our staff, investment and business network activities here," said Mr Peter Barge, CEO (Asia Pacific).

He also said that the company currently has over 900 people in India in locations such as Delhi, Mumbai, Pune, Hyderabad, Chennai, Kolkata, and Bangalore.

"I will be comfortable with a few thousand employees here in India. Not only will it be great for our Indian business but also for business elsewhere in the region."

Mr Barge said that the company was keen on growing its project management business and investment teams.

He added that the commercial realty market was growing "really fast" especially in Tier II cities, and that opening up of FDI in retail would provide the next level of growth, which is currently registering 30 per cent growth rate in commercial space demand.

On issues facing the Indian realty market, he said: "Many of our overseas and local clients would like to see opening up of the retail sector so that there can be more foreign investment. Also, in the commercial sector deregulation is not complete, there are still some limitations in size and time of completion of projects."

According to Mr Vincent Lottefier, Country Manager (India), Jones Lang LaSalle Property Consultants (India), the company is in close contact with major international luxury brands and large retailers, many of which have been eyeing India and are in India through joint ventures.

"If the deregulation does occur in retail, they will come in on their own. Opening up retail for FDI will create more demand for large space. Most developers are looking at commercial space and the mixed use concept has not taken off in India."

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