The office is being led by Ashok Kumar, the former head of Insignia Brooke's India operations. The new office is a joint venture with Kumar and CRESA Partners'international affiliate, Atis Real, which includes the Asia-based firm Sallmans Group.
"We recognized a need for a strong India presence based on the significantnumber of American companies that are outsourcing," says John Brady, Cresa Partners San Jose-based co-founder, citing a 2003 forecast by Forrester Research that predicts outsourcing will result in 3.3 million American jobs moving offshore by 2015, with 70 % of those jobs moving to India.
"The low cost of highly educated labor, an abundance of property, improving infrastructure, and government incentives are driving multinationals to India," says Kumar, who serves as a principal and managing director of Cresa Partners' India operations. "The Cresa Partners office fills a gap in India service to the many clients I have served in the past as well as newmultinational companies."
Cresa Partners also recently expanded its presence in Canada with the addition ofPartners Global Corporate Real Estate Inc. as the firm's Halifax, Nova Scotia, affiliate. Partners Global is Cresa Partners' sixth Canadian affiliate, joining offices in Toronto, Ottawa, Montreal, Vancouver, and Calgary.
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