Publications

Colliers acquires real estate project management firm in India
Transactions - OCTOBER 17, 2019

Colliers acquires real estate project management firm in India

by Kali Persall

Toronto-based Colliers International has acquired Synergy Property Development Services, India’s leading project management firm for an undisclosed sum.

Synergy will merge with Colliers’ existing operations in India to provide a variety of services to domestic and international real estate investors, occupiers and developers. Their experience extends across a range of sectors, including corporate, education, healthcare, aviation, residential, mixed-use, hospitality and retail.

The senior leadership of Synergy remain significant shareholders of the combined business under Colliers’ partnership model. Sankey Prasad, founding partner and chairman of Synergy, will assume the role of managing director and chairman for Colliers in India.

In September, Colliers announced that it was planning to acquire a controlling interest in Synergy.

Established in 2003, Synergy has delivered more than 120 million square feet of projects for real estate investors, developers and occupiers. With the deal, the combined operations in India now have more than 1,400 professionals operating from 16 offices.

“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 of Colliers, Asia Pacific.

As of 2018, Colliers had more than $26 million in assets under management.

Forgot your username or password?