CBRE has announced the acquisition of Singapore-based sustainability consulting firm Paia Consulting, enhancing its capacity to drive sustainability initiatives for clients worldwide.
Anshuman Magazine, President of CBRE’s Advisory Division for India, Southeast Asia, the Middle East, and Africa, stated, “This acquisition will significantly impact the APAC region. Growing awareness and interest in sustainability among businesses, coupled with increasing regulations, will prompt them to develop robust sustainability strategies and demonstrate tangible progress. The collaboration will leverage our global office network and clients’ multinational operations, providing access to best practices across various regions.”
Founded in 2002, Paia Consulting specializes in sustainability strategy, implementation, and reporting services throughout Singapore and Southeast Asia, having collaborated with over 100 firms listed on the Singapore Exchange.
Post-acquisition, Paia’s professionals will merge with CBRE’s existing ESG Consulting & Sustainability Services team in Singapore, which serves as the hub for CBRE’s sustainability initiatives across the APAC region. David Fogarty, who has led CBRE’s ESG Consulting & Sustainability Services in Asia since 2022, will oversee the integrated team, offering an expanded range of solutions, services, and training programs across industries.
Moray Armstrong, Managing Director of CBRE Singapore, commented, “We are dedicated to broadening the services we deliver to global and local clients to help them navigate today’s complex business environment. By incorporating Paia’s capabilities, CBRE will lead the ESG advisory space in Singapore and across the Asia Pacific. Our team will collaborate with clients on reporting, training, compliance, benchmarking, and developing ESG strategies.”
Paia Consulting’s leadership will take on pivotal roles within CBRE. Carrie Johnson, the founder of Paia Consulting, will serve as Lead Consultant, while Corrado Forcellati, Managing Director since 2021, has been appointed as Director of Client Sustainability Strategy & Solutions.
Mr. Forcellati expressed, “This merger provides a unique opportunity for both teams to collaborate and harness each other’s strengths, fulfilling our joint vision of becoming an end-to-end service provider. Clients across real estate and other sectors can anticipate enhanced thought leadership, tools, and solutions from our larger, more diverse team. We’re eager to deliver integrated solutions to sustainability challenges with a tailored, localized approach.”
He emphasized that the core principles driving Paia’s success will remain unchanged: “Our approach to engaging with clients and each other—characterized by care, curiosity, feedback, collaboration, and dedication—aligns with CBRE’s values.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company based in Dallas, is the world’s largest commercial real estate services and investment firm (by 2023 revenue). With over 130,000 employees, including Turner & Townsend personnel, CBRE serves clients in more than 100 countries. Established in Bangkok in 1988 and in Phuket in 2004, CBRE offers a diverse range of integrated services, including property sales and leasing, investment management, appraisal and valuation, strategic research and consulting, property management, and facilities and project management. For more information, visit CBRE Thailand.
