Real estate consultant CBRE India is expecting at least 20 percent growth in its facilities and property management vertical this year despite the COVID-19 pandemic and is targeting residential complexes and SMEs for new businesses, a senior company official said.
To help small and medium enterprises (SMEs) in maintaining their properties as per the global standards, CBRE recently launched a platform ”FM compass” CBRE India currently manages more than 390 million square feet area under its facility management and property management business vertical.
Under property management (PM), it has around 240 million sq ft area, including more than 150 commercial establishments and 80 + residential buildings.
For Facilities Management (FM), it is covering more than 150 million sq ft area, working with around 335 clients and taking care of 240 buildings across 20 cities.
“At CBRE, we are witnessing a growing demand for facility and property management services. With safety and wellness taking centre stage, organizations are investing more in the health and well-being of their people,” said Rajesh Pandit, Managing Director, Global Workplace Solutions, India and Property Management, India, Middle East, and North Africa, CBRE.
Through the support of its large workforce both direct and indirect as well as the use of the latest technologies, he said the company is providing various customized solutions to clients in managing their properties.
Pandit said the bulk of the business in the PM-FM vertical currently comes from commercial properties, but the need for professional service is growing in the housing societies.
“As residential complexes have now started outsourcing, this segment is expected to become bigger in the coming days. People are becoming aware of the benefits offered by organised FM players and in future more business is expected from this segment,” Pandit told PTI.
Asked about the growth, he said it will be at least 20 percent.
Pandit said the PM-FM vertical has a significant contribution to CBRE India’s total revenue but did not disclose the number.
On the new services for Micro, Small and Medium Enterprises, he said: “With the launch of the CBRE FM compass, we are bringing to the market an exclusive offering which will cover a large section of MSMEs currently not benefitting from outsourced FM operations and will bring them under the ambit of professional FM services of global standards.”