Czech real estate advisory company 108 Real Estate is expanding into India. The new branch in Delhi will focus on the industrial property segment and aims to develop services in Mumbai, Bengaluru, and Pune, in addition to the largest Indian city. The company’s decision to expand into India was driven by the favorable demographics, growing economy, and consequently, purchasing power in the country.
According to Branislav Jendek, a partner at 108 Real Estate in Slovakia who spearheaded and manages the expansion into India, the conditions for service development in the most populous country in the world are ideal. He mentioned that the Indian government continues to improve conditions for foreign investors, which has caught the attention of major industrial property lessors such as Panattoni, GLP, and Prologis. „In India, we want to synergistically leverage our long-standing and quality relationships with those from the markets of Central and Eastern Europe,“ said Jendek.
The Indian branch will initially focus on advisory services related to construction and occupancy of manufacturing spaces, warehouse facilities, and offices. According to Jakub Holc, the company’s CEO, the motivation for expanding services into India is the local economy’s growth linked to population increase.
In 2023, India’s population reached 1.4 billion. The company also aims to help create conditions in the Indian market that can withstand strong Chinese competition. In addition to advisory services in commercial industrial properties, the company plans to gradually expand services to other segments such as land transactions and investments.
„The middle class in India is growing wealthier, which will bring demand for new, higher-quality products. Therefore, it will be necessary to provide facilities for production, storage, and shipping,“ stated Mayur Tomar, an Indian consultant for 108 Real Estate. „The Indian government is encouraging investors to establish factories and investing a huge amount of resources in building infrastructure,“ he added.
According to 108 Real Estate, the four largest Indian cities – Delhi, Mumbai, Bengaluru, and Pune – accounted for nearly a quarter of industrial warehouse rentals in India last year. The industrial space supply around major cities in India amounted to over 38.3 million square meters.
This is roughly three times more than in the Czech Republic with just under eleven million inhabitants and seven million square meters more than the total warehouse supply in the Czech Republic, Slovakia, and Hungary combined.
108 Agency is a consultancy firm specializing exclusively in commercial real estate. Founded in 2009, the company has traded over ten million square meters in the Czech, Slovak, and Hungarian markets since then. Since 2021, 108 Agency has been a partner of BNP Paribas Real Estate for the Czech Republic.