GCC's Mega Developments Create Fertile Ground For Project Management Firms

(MENAFN- Khaleej Times)

The Middle East is undergoing one of the most transformative phases in its history, and there is significant opportunity in large-scale urban development and mixed-use developments, which continue to define national transformation agendas across the GCC, an expert said.

“As an independent entity, our focus will be on sectors where the transformation is fastest and the need for strategic project leadership is the most. Hospitality, tourism, and leisure will remain a core pillar. With the region positioning itself as a global destination, there is strong demand for high-quality hotels, resorts, entertainment venues, and cultural assets. Our experience in managing complex, design-intensive projects allow us to add substantial value here. Across all these sectors, our goal is to provide professional expertise that blends global best practices with deep regional understanding, ensuring that projects are delivered with certainty, accountability, and long-term value at their core,” said Sankey Prasad, a seasoned real estate entrepreneur and advisor with a four-decade track record spanning a global portfolio.

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Prasad recently acquired 100% ownership of the Colliers Project Leaders (CPL) business in the Middle East. With this acquisition, he assumes the role of Chairman of the newly-independent entity. It is in advanced-stage discussions with a leading global private equity firm for a strategic partnership, signalling strong investor confidence in its growth potential from its inception. This move follows Prasad's complete exit from Colliers India and Colliers Project Leaders, where he served as Chairman & Managing Director.

Prior to this acquisition, Prasad held a 30% stake in CPL Middle East. By acquiring the remaining 70% equity, he now owns the business outright. As a company, CPL is long regarded as a key business segment under Colliers International and has historically led project management and development advisory mandates across the region. The parent company Colliers International currently carries a market capitalization of a around $7.2 billion.

Prasad said the decision to acquire full ownership of CPL Middle East stems from a long-standing belief in the region's potential and the opportunity to build a high-performance, globally integrated advisory and project leadership enterprise.“Over the years, I have had the privilege of helping build Colliers India business into one of the most respected real estate advisory businesses in the region, and my experience in these markets has given me deeper insights into the scale of transformation underway across these markets,” he said.

The Middle East region is entering an unprecedented phase of development.“In such an environment, clients increasingly expect partners who can combine global standards with local agility. Taking full ownership allows me to shape the business with a sharper, more entrepreneurial focus by investing in the best talent, strengthening sector-specific leadership, and deploying advanced project advisory and delivery methodologies tailored to the region's evolving needs. This move is also aligned with my long-term vision of building a global portfolio of advisory and project leadership businesses unlocking the next phase of growth,” Prasad said.

Prasad is currently engaged in advanced-stage discussions with a global private equity firm.“This represents a significant step toward accelerating our next phase of growth. Beyond capital, what excites me about this potential partnership is the strategic value it brings along with access to global networks, operational expertise, and the ability to scale with speed and discipline. This partnership can help us strengthen our platform by enabling us to invest aggressively in market leading talent, state of the art technology, and build sector-specific capabilities, ensuring that we stay ahead of the curve in an increasingly competitive regional landscape. It will also provide the governance framework needed to pursue strategic acquisitions and expansion across the Middle East and other high-growth markets,” Prasad said.

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