Warehousing is expected to grow significantly in India with e-commerce driving the business, Robert E Sulentic, president & CEO of CBRE Group, Inc, told Moneycontrol.
"We expect warehousing to grow significantly. E-commerce is big here and that has driven a lot of growth in the warehousing business and I am sure a lot of capital is coming around the world to support that growth," he told Moneycontrol.
He said that India was one of the company's prominent businesses around the world.
"We have some of the biggest clients around the world here in India as large corporations and facilities are here. Our plan is to continue to grow and invest and grow this business aggressively. We have also started to use our leadership from India across other countries – South East Asia and Middle East - and that is a reflection of how successful this business has been and important for our company," he said.
CBRE South Asia on October 22 launched its foundation CBRE Cares - the firm's corporate philanthropy programme in the country.
CBRE Group, Inc is a Fortune 500 and S&P 500 company headquartered in Los Angeles in the US and is the world's largest commercial real estate services and investment firm.
The India edition, Ek Pehal, was launched by Sulentic and Anshuman Magazine, Chairman and CEO, India, South East Asia, Middle East and Africa.
"We are starting this foundation with an initial corpus of Rs 5 crore. The size of the corpus will be increased. We will approach other corporates for the funds," Magazine told reporters.
He emphasised on the need for providing basic health services and nutrition to labourers and their families on construction sites, especially in tier-II and III cities.
"We will initially focus on three cities - Delhi- NCR, Mumbai and Bengaluru. Later we will expand in other 10 cities where we have presence," Magazine said.
"In CBRE, we strongly believe in giving back to the community and I am sure Ek Pehal will motivate others to join this noble cause,” Sulentic said.
“We will be collaborating with charitable organisation and hospitals for this cause going forward,” Magazine said.
He said the foundation would start work from construction sites and then expand in other areas.
"Our aim is to start with three cities, learn from NGOs, learn from other agencies’ experience across India's several sites but our main focus will be on migrant labour and we will begin with locations known to us and then eventually scale up," he said.
vandana.ramnani@nw18.com
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