Colliers takes over Synergy to expand Indian business

Colliers International has acquired a controlling stake in project management firm Synergy Property Development Services and merged operations to create one of the top players in India’s commercial real estate market.

David Hand and Sankey Prasad
David Hand and Sankey Prasad (image: JLL)

The combined business will have more than 1,400 professionals operating in 16 offices across India, Colliers said in an announcement.

Established in 2003, Synergy has delivered more than 120m sq.ft. of real estate projects for investors, developers and occupiers.

Synergy’s senior leadership will remain shareholders in the combined business under Colliers’ partnership model.

“India is the fastest-growing economy in the world, providing an opportune time to elevate the size and depth of our business together with the highly regarded group of professionals from Synergy,” said David Hand, CEO | Asia Pacific.

“Having enjoyed tremendous growth in our Asia business over the last five years, combining with India’s leading project management business puts Colliers in an enviable position, setting the stage to accelerate the success of our clients and our people across the region.”

The move comes after Colliers acquired SIP Group, one of China’s leading construction project management consultancies, to merge its operations in March last year.

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Benn is a freelance journalist and the publisher of APAC Real Estate. He has reported for the Herald Sun, REFI Europe, S&P Global Market Intelligence, Leader Newspapers, and more.