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EXHIBITION UPDATES
UBM India launches World of Facilities Show in India
The event is set up by the world’s second largest trade show organizer, UBM plc and will premiere in India from 24th – 26th April, 2017, at Bombay Exhibition Center, Goregaon, Mumbai.
INDUSTRY NEWS
  • Quess Corp, the integrated business services firm controlled by Canadian billionaire Prem Watsa, announced the buyout of facility management and catering business from Manipal Integrated Services, promoted by Ranjan Pai. Quess will invest Rs220 crore in Manipal Integrated Services to develop its facility management and catering business. In due course, the two businesses will be hived off and merged into Quess.
  • Quess entered facility management and catering business in 2009 and has built it into a formidable business with a manpower of 20,000 people. The Manipal buyout will add another 17,000 people making the firm one of the leading players in the segment in India. The deal is expected to add about Rs 426 crore to Quess’s topline in March 2017.
  • Assotech Realty has appointed property consultant CBRE for facility management of its 1.8 million sq ft commercial project in Noida. CBRE, a global leader in real estate services, would manage its Assotech Business Cresterra (ABC) project, the company said in a statement. Assotech Realty is developing about 1.6 million sq ft of office space, 75,000 sq ft of high-end retail and nearly 200 serviced apartments in this commercial project. The first phase of about a million sq ft is almost completed.
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