Previously the Managing Director for Tenant Advisory Group, India, Ritesh will now focus on steering an aggressive growth strategy and securing a market leading position for the firm in the Southern India market. He will be working closely with our local leadership in the key cities of Bangalore, Hyderabad and Chennai and work on a strategic level in identifying new business avenues and cross selling opportunities, strengthening client relationships and ensuring excellence in service delivery.
With an extensive experience of over 16 years, on both the developer and service provider sides, Ritesh is known for successfully synergizing ‘Out-of-the-Box’ thinking with ‘deal closure’ and delivery services. He has led transactions on behalf of both occupiers and developers, optimizing and adding value to their real estate portfolios. Under his dynamic leadership, the TAG teams have transacted close to 100 million sq ft across 50+ cities in the country.
Anshul Jain, Managing Director, India, Cushman & Wakefield said, “South India contributes greatly to the Indian Real Estate sector and has been at the forefront of the office and industrial developments in the past decade. As the sector matures and moves towards a more strategic approach, having someone with Ritesh’s experience at the helm of this critical geographic market would be ideal. His knowledge and experience of the markets, will allow us to create innovative and individualized strategies for our clients, thereby ensuring long term value of their portfolio.”
Commenting on the new role, Ritesh Sachdev, Managing Director, South, Cushman & Wakefield, India said, “Each of the three major markets and the subsidiary locations, have very distinct characteristics that have been driving their growth. Thus it would be imperative to treat them distinctly and have growth plans customized to these markets. The multiplier effect that the growing commercial activities have had on the south Indian markets in the last few years, have impacted the growth of residential and retail real estate as well. Today we are at an interesting cusp when the economy and the sector is awaiting a new phase of growth and we anticipate the South Indian markets will be at the forefront of the change.”
According to Cushman & Wakefield, 2016 has witnessed a growing confidence in businesses that has resulted in a net absorption of 34 million square feet (msf) across 8 cities during 2016. Herein, Bengaluru recorded the highest absorption of 12.4 msf, highest in 9 years, followed by Hyderabad at 6.3 msf. While Bengaluru has emerged as the new hub for developmental activities, the political stability in Hyderabad is expected to bring fruition to corporates’ expansion strategies in the coming years.