Addition of leading project management firm in India with more than 1,000 professionals
TORONTO and BANGALORE, India, Oct. 16, 2019acquisition of Synergy Property Development Services ("Synergy"). The company will merge with Colliers' existing operations in India to create a top tier player with more than 1,400 professionals operating from 16 offices, providing investment sales, lease brokerage, valuations, workplace consultancy and property and project management to domestic and international investors, occupiers and developers of real estate. The senior leadership of Synergy remain significant shareholders of the combined business under Colliers' unique partnership model. Terms of the transaction were not disclosed.
Established in 2003, Synergy is India's leading project management firm having delivered more than 120 million square feet of projects for investors, developers and occupiers of real estate. Their exceptional, tenured leadership and enterprising team offer full building lifecycle services and possess deep sector expertise in corporate, education, healthcare, aviation, residential, mixed-use, hospitality and retail.
"Closing the Synergy transaction establishes Colliers as a top tier player in India, the fastest growing economy in the world, continuing the growth we've enjoyed across our Asia business over the past five years," said David Hand, CEO | Asia Pacific. "Our enterprising culture aligns perfectly with Synergy, which brings a team of highly regarded leaders and professionals. Together, we will continue to drive exceptional results, wherever our clients do business."
"Joining Colliers provides us significant growth opportunities in India by leveraging their global platform and institutional brand. Our team of dedicated professionals consistently exceed expectations and we look forward to accelerating continued success for clients," said Sankey Prasad, CEO, Colliers | India and Founder, Synergy.
About Colliers International Group Inc.
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GLOBAL CONTACT:
John B. Friedrichsen
Chief Financial Officer | Global
416 960 9500
ASIA CONTACT:
David Hand
Chief Executive Officer ¦Asia Pacific
+852 2822 0686
