Retail Demand has a big role in India’s Realty Market: CB Richard Ellis’ Sulentic

Demand of residential development in India is mounting day by day and in the coming five years for real estate by retail industry will move on the demand, said CB Richard Ellis’ global president Robert E Sulentic.
There is huge upsurge in retail real estate demand and organized retail is too flamboyant here. Also there is going to be a huge amount of residential development. The market will be witnessed of rapidly-changing trends in the retail real estate,” Mr. Sulentic said.
As per Mr. Sulentic due to some positive indications it seems that global market is recovering and the worst era has come to an end, as Gross Domestic Product (GDP) and employment rates moving up in the across the globe. Whereas he admits that growth and peaks witnessed in 2007 may not be repeated very rare.
In the next three years consultancy firm is planning to strengthen operations and increasing its employee strength to50%.
He added that “India is focal point for us to investment. As we are going to invest here to grow further. If in the next three years number of employees will move to 3000 then I wouldn’t be surprised for that.” Being a focus market for CBRE’s future growth, the consultancy firm currently has around 2,000 employees in India, of the total 6,550 across the Asia Pacific region that contributes around 15% to its annual revenue.
Mr. Sulentic believes that in Indian realty market policy structure has to be improved to attract more foreign funds. “I think it has to be more robust, as I have observed that there is lack of transparency, yet it is not cleared, still there are several hurdles for foreign investors to enter in the Indian property market.”