Besides expanding its network of offices, UK-headquartered estate service provider Savills said it will focus largely on office brokerage business and project management vertical in India.
The company said both office space leasing and office PMS was showing sustained demand
“Office space vertical is showing promising growth and we will be focusing on it besides office project managements. India is a large market and we will be expanding cautiously here,” Bhavin Thakker, Country Manager, Tenant Representation, Savills India told Business Line.
Speaking on office brokerage business, Thakker said that strong occupiers demand in the office space has boosted the company to operate in the segment.
“There is sustained demand from IT, pharma financial sector for office space. We see that momentum continuing in near-term, “ he added.
Last month, the company opened its second office in Mumbai after Bengaluru. Thakker said that the company is also looking to set up an office in Gurugram to be closer to its consumers.
“Both Mumbai and Delhi-NCR are important when it comes to office occupiers demand. Our aim is to represent clients and look into their demands for space. We will also we tapping into our existing clients from global markets,” he added.
Asked if the company will also look into residential real estate brokerage, Thakker said even though it is on its radar, the company may not immediately focus on it.
Savills Asia Pacific has offices in 17 countries including China, Japan, Korea, Thailand, Vietnam, Taiwan, Singapore, Hong Kong, Australia and India.
In India, Savills will compete with players such as Cushman &Wakefield, Knight Frank and Jones Lang Lasalle among others.
EOM