New base will also service clients from Rajkot, Bhavnagar, Vadodara, Surat, etc.
In response to the increasing demand for specialized and focused real estate services in Gujarat, international real estate consultancy Jones Lang LaSalle Meghraj has now set up an operation base in the key city of Ahmedabad. Though this office was provisionally established on Navratri Day of 2008, the company decided to ramp up operations prior to an official announcement. The office is fully functional and geared up to meet business demands.
“Jones Lang LaSalle Meghraj has always been a pioneer in reading markets and potentials. We were the first to open an office in Kolkata, at a time when this city was not taken seriously as a real estate market. We were also the first to open offices in Tier II cities such as Chandigarh, Kochi and Coimbatore,” says Pawan Swamy, Managing Director (Western India), Jones Lang LaSalle Meghraj. “When we perceive that a particular city or state has a bright future, we establish a base and presence there. Ahmedabad was on the cards for almost a year and a half. We had been watching this city – and Gujarat in general – closely, convinced of the potential for progress and development there. By opening this office, we are closer to the developers, financial bodies as well as Government and State Government agencies with whom we already have excellent business relationships. We have been operating in various cities of Gujarat, including Ahmedabad, for the last six years now, and felt it was time to make an official footprint. Our Ahmedabad office will help in smoothening our day-to-day operations workings there.”
Historically, Gujarat is closely linked with the financial capital of Mumbai. So far, Jones Lang LaSalle Meghraj has been servicing the business requirements of its clients from Gujarat via its Mumbai office. With the Ahmedabad office in place, the company is now closer to these clients and can work in close conjunction with them on a day-to-day basis. The office will also service the business requirements of clients in other areas of Gujarat, such as Rajkot, Bhavnagar, Vadodara, Surat, etc.
“Most retail and finance business is based in Mumbai, while Ahmedabad has the developer and investor bases,” says Ashutosh Limaye, Associate Director – Strategic Consulting, Jones Lang LaSalle Meghraj. “This office allows us to link the two for optimum efficiency and also allow us to service Gujarat’s extremely strong NRI community. We have put key Strategic Consulting staff in place at the Ahmedabad office. Usually, Strategic Consulting is the first step in any real estate or infrastructure development project. This department will not only execute advisory projects but also enable the smooth functioning of our other business lines such as Capital Markets, Markets, residential and facilities management.”
Gujarat’s State Government is one of the most progressive and proactive in India. There is a lot of thrust on infrastructure development - Gujarat is perhaps the only state that first puts in infrastructure and then effects planned development. State Government development agencies for Urban Development, city administrations such as AUDA and entities such as GIFT play an important role in overall development - including real estate. Also, industrial development has helped Gujarat to emerge as a prime SEZ and industrial location. Historically, the Gujarati community is extremely entrepreneurial, with names such as the Adani, Lalbhai and Sarabhai Group standing out as national business icons.
Jones Lang LaSalle Meghraj now intends to add a touch of professionalism to Gujarat’s thriving real estate market, and to open it up for new investments and opportunities on a Pan India and global level.
About Jones Lang LaSalle Meghraj
Jones Lang LaSalle Meghraj, the Indian operations of Jones Lang LaSalle, is the premiere and largest real estate professional services firm in India. With an extensive geographic footprint across ten cities (Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over 2900, the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including research, consultancy, transactions, project and development services, integrated facility management, property and asset management, capital markets, residential, hotels and retail advisory.
For further information, please visit www.jllm.co.in
