U.S.-based Equis opens office in India
Wednesday, 21 May 2003, 07:00 Hrs
NEW DELHI: Equis Corporation, a U.S.-based real estate firm for business houses, Tuesday announced the opening of its office in Bangalore to help multinational companies increase performance of real estate assets in India. The company said it had tied up with Motorola, Citibank, General Electric, Sun Microsystems, Texas Instruments and Dell to identify and build sites for call centres and back office-processing centres. "We've seen a growing number of industrial manufacturing, service and high tech firms relocating their call centres to India or their production facilities to southern China," said Michael Silver, president of Equis Corp. "India, in particular, offers several advantages to these corporations, including the availability of qualified, skilled and reliable manpower, reasonably priced space, low operating costs and a good telecommunications infrastructure." In addition to site selection and acquisition, Equis will provide project management and capital sourcing services in the Indian market, said a company statement. The company plans to hire local real estate professionals to manage offices in India and other Asian countries. "The benefit of hiring local people is that they know the area, local government regulations and the language," said Silver. According to Shrinivas Rao, vice president and managing director of Equis India, the India market will continue to grow rapidly, resulting in huge space requirements in some of the country's major cities. "As more and more global companies look to expand their operations to India, where labour and space are plentiful and inexpensive, they will need companies such as ours," said Rao. Globally, Equis serves blue-chip clients such as Coca-Cola, DaimlerChrysler, Delphi Automotive, General Services Administration, GlaxoSmithKline, Dow Chemical, and Watson Wyatt Worldwide.