Latest news with #SankeyPrasad
Time of India
07-07-2025
- Business
- Time of India
Flex spaces power India's office market with 65% yoy surge, tech sector drives over 50% of occupancy
Flexible workspaces are emerging as a key pillar of India's commercial real estate market, with strong demand across cities and sectors. Leasing activity in flex spaces touched 4.3 million square feet in Q2 2025, marking a 65% year-on-year rise with major players singing large floor spaces In Mumbai , Smartworks leased 411,200 sq. ft. in TRIL-Phase I-Intellion Park, Navi Mumbai, one of the largest deals of the year. In Hyderabad, Tablespace leased 270,000 sq. ft. at Phoenix Centaurus in the Off SBD region. Chennai witnessed a significant deal with Incuspaze taking 250,500 sq. ft. in Olympia Crest on OMR Zone 1, while WorkEZ and Smartworks closed two deals in Bengaluru , leasing 175,000 sq. ft. and 159,000 sq. ft., respectively. Additionally, Bhive leased 143,900 sq. ft. in Whitefield, continuing the trend of strong local operator activity in the city. 'Tech firms continue to drive flex space demand, particularly in core and suburban business districts. These occupiers increasingly prefer managed and agile space models to support hybrid operations and cost management.,' said Sankey Prasad, chairman & managing director, Middle East & India at Colliers. Experts says technology-driven companies have been central to this surge. Occupiers from tech-based firms—ranging from global IT services companies to domestic SaaS and fintech players—now account for over 50% of total flex space occupancy across India's top seven cities. The demand spans both startups and large enterprises seeking scalability, speed to market, and employee-centric workplace models. Live Events In the first half of 2025, Microsoft Corporation executed the largest flex space transaction, leasing approximately 1,250 seats at Phoenix Centaurus in Hyderabad's Off SBD micro-market Concentrix followed with a lease for 1,100 seats at Poloroche Business Avenue in Pune's Viman Nagar. Fujitsu Limited secured 800 seats at Raheja Mindspace in Hyderabad's SBD, marking another significant deal in the city. Meanwhile, Rapid7 leased around 600 seats at Amar Tech Park in Pune's Baner Balewadi area through, highlighting Pune's growing appeal to tech occupiers seeking flexible workspace solutions. In Chennai, Contus Tech leased 550 seats at Keppel One Paramount, operated, while Korcomptenz secured 255 seats at the SIFC Building in the CBD. Additionally, Cloud Odyssey opted for 326 seats at Manyata Tech Park in Bengaluru, and Infosys Limited took up 300 seats at Alphathum Tower in Noida. According to experts, Bengaluru remains the largest flex space market, accounting for one-third of leasing activity in Q2 2025. However, leasing momentum is picking up in Mumbai, Hyderabad, and Chennai, with key transactions reflecting growing occupier confidence and supply follows the all-time high quarterly demand witnessed in Q4 2024, reinforcing flex operators' growing influence on occupier preferences and office space planning, according to data from Colliers. Flex space providers are no longer viewed as a stopgap or cost-saving solution. They have become mainstream players catering to diverse occupier segments, including multinationals. Their influence now extends beyond just leasing—they are actively shaping how space is designed, used, and managed. 'Our enterprise-first model ensures compliance, scalability, and speed, helping large global clients expand seamlessly. Many clients grow their footprint with us, validating our offering. As demand from GCCs rises, we are expanding across Tier 1 cities to meet growing enterprise needs,' said Kunal Mehra, President & Co-CEO, Table Space Many corporates are also adopting the hub-and-spoke model, combining head offices with satellite flex sites to cater to distributed workforces. 'As workplace strategies evolve post-pandemic, flexible office spaces are no longer just about convenience—they are becoming a strategic asset class. We are working closely with landlords to co-create long-term space solutions, integrating flexibility particularly in newer micro-markets and redeveloped business parks,' said Urban Vault Founder Amal Mishra. India's flex space stock has crossed 60 million sq. ft., with the top seven cities contributing the majority of this footprint. Operators are expanding into Tier-2 cities and strengthening their offerings with customised enterprise solutions, technology integration, and space-as-a-service models. Given the current momentum and occupier appetite, industry experts believe flex spaces will account for a rising share of total office absorption in 2025 and beyond. Institutional investors and developers are also collaborating with operators to include managed space formats in their upcoming assets.
Time of India
30-06-2025
- Business
- Time of India
Colliers India eyes ₹1,100 crore order book in 2025 amid strong leasing pipeline, sectoral resilience
NEW DELHI: Colliers India is targeting an order book of ₹1,100 crore in 2025, up from a revenue of approximately ₹700 crore in the previous calendar year. The real estate services firm has reported a robust start to the year, with its leasing business already showing 20–25% growth over 2024. Sankey Prasad , chairman and managing director in an exclusive interview with ETRealty said that the company remains bullish on India's commercial real estate sector, citing strong fundamentals and continued demand despite global headwinds. As part of its global integration strategy, Colliers is establishing a new Global Capability Centre (GCC) in Bengaluru . The facility, which is currently operating out of a smaller site, will soon be expanded into a larger, consolidated space. The GCC will serve Colliers' international operations, with all roles being new hires rather than internal transfers. "This centre is purely for Colliers' internal global requirements, aimed at cost optimisation and centralised support," Prasad said. Despite economic uncertainties and layoffs in key Western markets, India's office market is projected to remain resilient in 2025. 'We expect the gross office leasing this year to be in the range of 65–70 million sq ft, close to last year's 66.5 million,' said Prasad. He noted that Q1 2025 alone recorded 15.9 million sq ft of leasing, signaling strong momentum. Prasad attributes the sustained demand to key sectors like engineering, manufacturing, and BFSI, which are likely to account for 35–40% of office leasing. Technology firms, even amid hybrid work shifts, are expected to contribute another 25–30%, while flex space operators will continue to hold a 20% share. Select tier-2 and tier-3 cities may also attract leasing activity, driven by cost advantages and improved infrastructure. Although widespread layoffs in the US and Europe have triggered fears of reduced expansion plans, Prasad noted that major firms in India have shown caution in real estate expansion since the pandemic. 'Most companies did not expand their office footprint in proportion to headcount growth in the last few years,' he said. 'This conservative strategy is now insulating them from overexposure as they realign workforce needs.' He dismissed the idea of a major leasing slowdown unless there's a global economic shock, stating that 'many multinationals are still planning to take up more space by Q3 or Q4.' He also noted that Colliers' own leasing pipeline has grown by 20–25% compared to last year. Grade-A supply remains tight as leasing outpaces construction Developers have been cautious in launching new commercial supply post-COVID, resulting in a shortage of top-tier, sustainable office stock. While some of the supply planned before the pandemic is now coming online, the pace of fresh additions remains limited. This imbalance has created opportunities for redevelopment and upgradation of older Grade B and C assets. 'We are actively advising on several such projects. There is strong occupier interest for Grade-A spaces, and quality continues to be a differentiator,' said Prasad. A major driver of this demand is the Global Capability Centre (GCC) segment, which accounted for 6.5 million sq ft, or 41% of total leasing across top cities in Q1 2025. Colliers estimates that GCCs will lease 25–30 million sq ft this year, sustaining their share at 40–50% of total office demand. Investment flow shows resilience, shift in strategy While there has been a temporary dip in FDI inflows due to geopolitical and economic factors, Prasad noted that investor interest remains intact. 'India saw $529 million in FDI into construction development in FY25 so far,' he said. 'Family offices, in particular, are emerging as aggressive and flexible investors, often preferring hybrid equity-debt models to balance returns and risk.' Platforms are increasingly being created between family offices and developers for long-term value creation. Colliers has seen private funding activity extending beyond office real estate into logistics, data centres, and townships, indicating broader investor confidence. Branded developers consolidating residential market In the residential sector, consolidation among top developers continues to intensify. Branded players now dominate launches and land acquisition, often at premium prices that smaller or mid-size builders cannot match. 'Consumer trust, financial strength, and execution capabilities give these firms a clear edge,' said Prasad. However, this trend is pushing up land prices and squeezing the viability of mid-income and affordable housing. While tier-2 cities may see targeted interventions, the widening affordability gap in tier-1 cities could lead to further strain on the supply side. 'There's a definite need to revisit development models to cater to mid-income demand,' he added.
Business Standard
12-06-2025
- Business
- Business Standard
Colliers releases 2024 Global Sustainability Report; announces refreshed sustainability strategy, 'Built to Last'
PRNewswire Bangalore (Karnataka) [India], June 12: Colliers (NASDAQ: CIGI), (TSX: CIGI), a leading diversified real estate professional services firm, released its 2024 Global Sustainability Report, highlighting the firm's achievements and progress against targets established in 2021. The company's refreshed sustainability strategy, Built to Last, elaborately conveyed through the report, includes targets for addressing the firm's own GHG emissions and helping its clients do the same. The strategic framework rests on three interconnecting themes - Environmental Sustainability, Workplace Experience, and Ethical Governance & Practices. Environmental Sustainability addresses the growing need for decarbonization pathways that enhance asset resilience and align with climate change mitigation goals. Workplace Experience focuses on people - their safety, well-being, and acceptance. And Ethical Governance & Practices emphasizes the firm's commitment to ethical business conduct and transparent governance, particularly around data privacy and proactive cybersecurity measures to protect the interests of internal and external stakeholders. Inclusiveness and instilling a sense of belonging among its people remain a key area of focus for the firm. Several of the firm's Asia Pacific markets including India strengthened their Employee Assistance Programme (EAP) offering to make services, personalized support and wellness workshops more accessible to employees. Further, the enhanced employee referral program has broadened the hiring pool by leveraging employees' social networks. Asia Pacific highlights in the report include: * 39.6% reduction in Scope 1 and 2 emissions per square foot from a 2021 baseline * Secured WELL Health-Safety Ratings in all Colliers offices in Asia Pacific * 108% participation in Colliers Gives global volunteering program * Approx 90% engagement in our global employee survey, with engagement scores exceeding external benchmarks * 30% of manager+ roles held by women "At Colliers, sustainability is not just a commitment but the foundation of our future. With our refreshed sustainability strategy, 'Built to Last', we are prioritizing people, governance, and environmental sustainability, ensuring that progress is both impactful and enduring. From sustainable asset investing to integrating new ESG-focused services, we are embedding sustainability into every facet of our business. Our unbiased hiring practices, increased women leadership, and sensitivity trainings reflect our dedication to inclusiveness, while our community initiatives reinforce our responsibility to giving back. Winning key accolades and acquiring certifications like Great Place to Work is a testament to our ethical stance and steadfast pursuit of excellence and sustainable growth. As we move forward, we will continue leading with integrity, innovation, and a deep-rooted commitment to doing right by our people, clients and communities," says Sankey Prasad, Chairman & MD, Middle-East & India, Colliers. "Our latest global sustainability report underscores our unwavering commitment to our ESG goals - prioritizing people, governance, and environmental sustainability. By integrating compliant strategies, sustainable asset investments, and inclusive leadership practices, we continue to drive meaningful change. As we embrace technological advancements, we are committed to harnessing AI and pioneering technologies responsibly, integrating policies that drive ethical innovation, improved efficiency, and ascending growth. Our refreshed approach is also deeply rooted in fostering an inclusive, transparent, and forward-thinking organization. We prioritize the physical and mental well-being of our employees, creating a supportive culture where they can thrive. We hope to empower professionals from diverse backgrounds, ensuring that all our people have equal access to opportunity and resources that unlock their full potential," says Badal Yagnik, Chief Executive Officer, Colliers India. The full 2024 Global Sustainability Report is available at About Colliers Colliers (NASDAQ: CIGI) (TSX: CIGI) is a global diversified professional services and investment management company. Operating through three industry-leading platforms - Real Estate Services, Engineering, and Investment Management - we have a proven business model, an enterprising culture, and a unique partnership philosophy that drives growth and value creation. For 30 years, Colliers has consistently delivered approximately 20% compound annual returns for shareholders, fueled by visionary leadership, significant inside ownership and substantial recurring earnings. With nearly $5.0 billion in annual revenues, a team of 23,000 professionals, and more than $100 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors, and people worldwide. Learn more at X @Colliers or LinkedIn.
Yahoo
12-06-2025
- Business
- Yahoo
Colliers releases 2024 Global Sustainability Report; announces refreshed sustainability strategy, 'Built to Last'
BANGALORE, India, June 12, 2025 /PRNewswire/ -- Colliers (NASDAQ: CIGI), (TSX: CIGI), a leading diversified real estate professional services firm, released its 2024 Global Sustainability Report, highlighting the firm's achievements and progress against targets established in 2021. The company's refreshed sustainability strategy, Built to Last, elaborately conveyed through the report, includes targets for addressing the firm's own GHG emissions and helping its clients do the same. The strategic framework rests on three interconnecting themes - Environmental Sustainability, Workplace Experience, and Ethical Governance & Practices. Environmental Sustainability addresses the growing need for decarbonization pathways that enhance asset resilience and align with climate change mitigation goals. Workplace Experience focuses on people – their safety, well-being, and acceptance. And Ethical Governance & Practices emphasizes the firm's commitment to ethical business conduct and transparent governance, particularly around data privacy and proactive cybersecurity measures to protect the interests of internal and external stakeholders. Inclusiveness and instilling a sense of belonging among its people remain a key area of focus for the firm. Several of the firm's Asia Pacific markets including India strengthened their Employee Assistance Programme (EAP) offering to make services, personalized support and wellness workshops more accessible to employees. Further, the enhanced employee referral program has broadened the hiring pool by leveraging employees' social networks. Asia Pacific highlights in the report include: 39.6% reduction in Scope 1 and 2 emissions per square foot from a 2021 baseline Secured WELL Health-Safety Ratings in all Colliers offices in Asia Pacific 108% participation in Colliers Gives global volunteering program Approx 90% engagement in our global employee survey, with engagement scores exceeding external benchmarks 30% of manager+ roles held by women "At Colliers, sustainability is not just a commitment but the foundation of our future. With our refreshed sustainability strategy, 'Built to Last', we are prioritizing people, governance, and environmental sustainability, ensuring that progress is both impactful and enduring. From sustainable asset investing to integrating new ESG-focused services, we are embedding sustainability into every facet of our business. Our unbiased hiring practices, increased women leadership, and sensitivity trainings reflect our dedication to inclusiveness, while our community initiatives reinforce our responsibility to giving back. Winning key accolades and acquiring certifications like Great Place to Work is a testament to our ethical stance and steadfast pursuit of excellence and sustainable growth. As we move forward, we will continue leading with integrity, innovation, and a deep-rooted commitment to doing right by our people, clients and communities," says Sankey Prasad, Chairman & MD, Middle-East & India, Colliers. "Our latest global sustainability report underscores our unwavering commitment to our ESG goals - prioritizing people, governance, and environmental sustainability. By integrating compliant strategies, sustainable asset investments, and inclusive leadership practices, we continue to drive meaningful change. As we embrace technological advancements, we are committed to harnessing AI and pioneering technologies responsibly, integrating policies that drive ethical innovation, improved efficiency, and ascending growth. Our refreshed approach is also deeply rooted in fostering an inclusive, transparent, and forward-thinking organization. We prioritize the physical and mental well-being of our employees, creating a supportive culture where they can thrive. We hope to empower professionals from diverse backgrounds, ensuring that all our people have equal access to opportunity and resources that unlock their full potential," says Badal Yagnik, Chief Executive Officer, Colliers India. The full 2024 Global Sustainability Report is available at About Colliers Colliers (NASDAQ: CIGI) (TSX: CIGI) is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering, and Investment Management – we have a proven business model, an enterprising culture, and a unique partnership philosophy that drives growth and value creation. For 30 years, Colliers has consistently delivered approximately 20% compound annual returns for shareholders, fueled by visionary leadership, significant inside ownership and substantial recurring earnings. With nearly $5.0 billion in annual revenues, a team of 23,000 professionals, and more than $100 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors, and people worldwide. Learn more at X @Colliers or LinkedIn. Media Contact: Sukanya DasguptaNational Director, Marketing & Communication+91 Logo: View original content:
Khaleej Times
24-03-2025
- Business
- Khaleej Times
‘Technology and sustainability are the future—early movers will lead the next real estate boom'
As the UAE real estate market navigates a period of recalibration, investors and developers are watching closely to identify the next wave of opportunities. With strong cross-border investment flows and a growing appetite for large-scale developments, the Middle East and India are forging deeper real estate synergies. 'Certain sectors are beginning to shift, but the phenomenal growth in the real estate market alongside the remaining high purchasing power, makes the UAE a hotspot for property investment,' Sankey Prasad, Chairman & Managing Director of Colliers India and Middle East, told Khaleej Times in an interview. Excerpts: There is a growing thought that the UAE real estate market may be slowing down this year. What do you think? Post Covid-19 pandemic, the UAE has seen unmatched growth in its real estate market. The total number of transactions in Dubai equated to an astonishing $64 billion, almost a 17 per cent increase compared to last year. Even though some regions may take time to catch up, there are still some positive signs for other areas. There's evidence of economic strain with global interest rates increasing, but other key industries are booming. As a result of the growth in e-commerce, the logistics sector is flourishing and the hospitality industry is seeing great success as Dubai overtook its pre-covid tourism rankings, receiving over 17 million international visitors in 2023. For example, take Palm Jumeirah. The super luxury market continues to rise even though other parts of the area are noticing a drop in prices. Last year a stunning $27.8 million was paid for a penthouse in Atlantis the Royal, demonstrating that buyers remain interested in ultra luxury properties. Simultaneously, several of Dubai's directly neighbouring areas such as Business Bay and Dubai Hills are cashing in on the supply-demand imbalance creating great buying and investment possibilities. Is there perhaps a change in the market? Yes, but it is very much in motion rather than being stagnant. Do you think there are areas available for strategic synergies between Middle Eastern and Indian real estate markets? There are several areas where the Middle Eastern and Indian real estate markets can create strategic synergies, driven by investment flows, infrastructure expertise, and technology adoption. One major area is cross-border investments. The UAE has been a top investor in Indian real estate, with sovereign wealth funds like Abu Dhabi Investment Authority (ADIA) and Dubai-based Emaar making significant investments in India's commercial and residential sectors. With India's growing urbanisation — where cities are expected to add 416 million people by 2050 — Middle Eastern investors see a long-term opportunity in high-growth segments like affordable housing, logistics, and office spaces. Conversely, Indian developers are expanding in the Gulf, particularly in Dubai and Abu Dhabi. Companies like Sobha Realty and Lodha Group have successfully entered the UAE luxury real estate market, catering to the large Indian diaspora and global investors. Another key synergy lies in real estate technology and sustainable development. The Middle East, particularly Saudi Arabia and the UAE, is investing heavily in smart cities and green buildings — think NEOM in Saudi Arabia or Masdar City in Abu Dhabi. India, too, is pushing forward with its Smart Cities Mission, and collaboration in PropTech, AI-driven urban planning, and sustainable construction could benefit both regions. Finally, with increasing GCC-India trade ties, demand for commercial real estate, warehousing, and logistics hubs is growing. As both regions focus on economic diversification beyond oil, we can expect more joint ventures, REIT collaborations, and knowledge-sharing in urban development. What unique opportunities and challenges do you identify in cross-market development strategies? The UAE and India's real estate markets are closely linked, driven by investment, trade, and urban expansion. Take Dubai's luxury real estate boom—Indian developers like Sobha Realty and Lodha have successfully entered this space, selling high-end properties to global investors and the Indian diaspora. On the flip side, UAE-based investors, including Abu Dhabi Investment Authority (ADIA), are putting money into India's growing residential and logistics sectors, recognising the country's demand for modern infrastructure. Trade between the two regions hit $85 billion in 2023, fuelling demand for warehouses, commercial spaces, and industrial hubs — a great example is DP World's investment in Indian ports and logistics parks. Then there's the future of cities—Dubai's advancements in smart cities and green buildings, like Masdar City, could inspire India's Smart Cities Mission, where over 100 cities are being modernised. Yes, challenges exist—India's complex land laws, differences in buyer preferences, and economic fluctuations — but with smart collaborations and well-planned investments, real estate between the UAE and India is set for long-term growth. The concept of aero city projects is gaining traction, both in the Middle East and India. What is your perspective on the potential growth and implementation of aero city developments in these regions? Aero city projects are becoming a major focal point in both the Middle East and India, driven by increasing air traffic, business travel, and the need for integrated urban hubs around airports. In the UAE, we have already seen successful examples like Dubai South, which is built around Al Maktoum International Airport, offering a mix of residential, commercial, and logistics spaces. Similarly, in Abu Dhabi's Airport Free Zone, companies benefit from seamless global connectivity and pro-business regulations. In India, the concept is gaining traction with projects like GMR AeroCity in Hyderabad and Delhi Aero city, which combine office spaces, retail, hospitality, and logistics, catering to both businesses and travellers. The real opportunity lies in positioning these developments as self-sustaining ecosystems, attracting multinational companies, logistics firms, and technology hubs. Challenges include infrastructure readiness, regulatory approvals, and ensuring long-term demand, but with growing global trade and business mobility, aero cities will play a key role in shaping the future of urban development in both regions. How do these projects contribute to urban infrastructure and economic diversification? Aero city projects are more than just real estate developments — they are economic engines that drive urban infrastructure and diversification. In the UAE, Dubai South and Abu Dhabi's Airport Free Zone have attracted global businesses, logistics firms, and technology hubs, creating thousands of jobs and boosting non-oil revenue. These projects seamlessly integrate business districts, residential zones, and cargo hubs, enhancing connectivity and reducing urban congestion. In India, Delhi Aero city and GMR Aero City Hyderabad are transforming underutilised airport land into thriving commercial and hospitality zones, catering to corporate offices, retail, and MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism. By linking aviation, logistics, and real estate, aero cities support foreign investment, trade expansion, and tourism growth, making them key contributors to both economic diversification and sustainable urban development. The challenge lies in ensuring efficient transport links, regulatory support, and long-term demand, but with rising global mobility, these projects will be crucial in shaping the future of smart cities and business ecosystems. Can you elaborate on your methodology for integrated project management in complex real estate developments? Integrated project management in large-scale real estate developments is about bringing efficiency, risk mitigation, and seamless coordination across all phases — from planning to execution. At Colliers, we follow a 360-degree approach, ensuring that design, construction, financing, and operations are aligned from day one. First, we start with data-driven feasibility studies, analyzing market demand, financial viability, and regulatory requirements. For example, when working on an aero city or mixed-use development, we assess connectivity, zoning laws, and infrastructure needs to ensure long-term success. Next comes stakeholder coordination — in complex projects, you're managing multiple entities, including government bodies, investors, architects, and contractors. We implement real-time project tracking systems and BIM (Building Information Modeling) to streamline communication and prevent delays. Risk management is another key pillar. From cost escalations to regulatory shifts, every project has challenges. We focus on proactive problem-solving, using contingency planning and phased development to adapt to market conditions. Finally, sustainability and technology integration are now non-negotiables. Whether it's LEED-certified buildings, smart infrastructure, or digital twin technology, we prioritise future-proofing developments to maximise long-term value. By combining global best practices with localised expertise, our approach ensures that complex real estate projects are delivered on time, within budget, and with maximum stakeholder value. Specifically, how do you ensure seamless coordination between design, construction, and cost optimisation in large-scale commercial projects like world trade centres or amusement parks? Seamless coordination in large-scale commercial projects — whether it's a World Trade Centre, amusement park, or an aero city — requires a structured, technology-driven approach that aligns design, construction, and cost optimisation from the outset. First, we emphasise early-stage integration. Before breaking ground, we bring architects, engineers, and cost planners together to ensure the design is not just visually striking but also practical, efficient, and cost-effective. For example, in a World Trade Center project, the structural layout must balance aesthetic appeal with floor space efficiency, optimising rental yield for investors. Next, we use Building Information Modelling (BIM) to create a real-time digital twin of the project. This allows us to identify design clashes, optimise material use, and streamline workflows — reducing costly errors and construction delays. In projects like amusement parks, where infrastructure, ride mechanics, and visitor flow must be perfectly synchronised, this technology ensures smooth execution. On the cost side, we deploy value engineering — analysing every element of the project to find smarter, more cost-efficient alternatives without compromising quality. For instance, in large commercial hubs, we focus on modular construction, prefabrication, and energy-efficient designs to cut costs while maintaining world-class standards. Finally, project success depends on real-time tracking and agile decision-making. We implement AI-driven project management tools that give all stakeholders — developers, contractors, and financial teams — access to live updates, ensuring swift issue resolution and cost control. The key is to treat design, construction, and cost management as one interconnected ecosystem, rather than separate silos. By doing this, we ensure that even the most complex projects are delivered on time, within budget, and to the highest global standards.
