Increases Strength by Two Fold Through Strategic Team Acquisition in Kolkata
KOLKATA, India, Sept. 5, 2013 /PRNewswire/ -- In the latest phase of the company's growth in India, Cushman & Wakefield, the world's largest privately held commercial real estate services firm, announced that it has strategically augmented their Kolkata operations as they acquired the entire team of Lemongrass Advisors, a well-respected real estate consultancy firm in Kolkata and Eastern India. With this team acquisition, Cushman & Wakefield expanded their operations in the region by twofold.
This latest talent acquisition is aligned with the firm's global strategy to strengthen its operations in India and will help in the expansion of Cushman & Wakefield's services in Eastern India and the ability to provide more in-depth experience, a broader reach and a wider range of integrated solutions to its clients.
Kolkata, the third largest city in India in GDP terms, has been an important economic hub in India's eastern corridor. With many companies actively looking at expanding their operations in this region, this latest acquisition will place Cushman & Wakefield in a very strong position to take advantage of the growth in this market.
This acquisition follows Cushman & Wakefield's announcement earlier this year that it had expanded its operations into Taiwan and Philippines with office openings in Taipei and Manila and acquisition of Singapore Based Project Management company PSG in Asia.
Carlo Sant'Albano, Cushman & Wakefield's Executive Chairman said, "We remain committed to growing and strengthening our APAC operations in terms of local country presence and service line strength. Over the past 18 months we have added six new offices and over 900 new staff to our Asia operations and this latest team acquisition is a testimonial to our continued support to the region. Enhancing our capabilities is a strategic priority for us and this latest move follows our successful acquisition of Cousins Properties in US last year and PSG in APAC earlier this year."
Sanjay Verma, Chief Executive Officer, Asia-Pacific, Cushman & Wakefield commented: "The acquisition of the entire Lemongrass team is a crucial step towards strengthening our operations to help us be prepared for the next wave of growth in the Indian region and is in keeping with the growing requirements of our clients and continuing to build our capability for leveraging globally. This team acquisition will help us adequately leverage on the opportunities in the market, and would enable us to enhance our service delivery capabilities and create a dominant position for Cushman & Wakefield in the Eastern India market."
