The Hindu Business Line : Jones Lang Lasalle Meghraj to expand to smaller cities

Hyderabad, March 20 Jones Lang Lasalle Meghraj, the Indian arm of global real estate money management and services firm Jones Lang Lasalle, is planning to expand its operations to tier-II cities soon.

“There has been lot of interest in real estate in tier-II-III towns. In tune with the market trend, we will be entering tier-II-III cities soon,” Mr Anuj Puri, Chairman and Country Head, Jones Land Lasalle Meghraj told Business Line here on Thursday.

The company, which operates across 10 cities at present, would launch operations in Visakhapatnam, Bhubaneshwar, Ahmedabad, and Lucknow over next 6-12 months, he said.

Growing interest

The foray into tier-II-III cities is due to growing interest of information technology and retail sectors in these areas. “Our IT and retail clients are, in a way, pushing us to these towns,” Mr Puri said. The company would also be ramping up its head count in India from 3,300 to 4,000 this year. It would also offer mall management, hospitality advisory and real estate intelligence services soon.

On the state of real estate market in India, Mr Puri said there was an upward shift in demand and investment across the country. The interest of foreign institutional investors in Indian real estate sectors was growing.

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