Avid Investment, Cushman & Wakefield join hands

KATHMANDU, May 30:

Avid Investment & Services (AIS), a local business consulting group, has signed an agreement with Cushman & Wakefield - the world’s largest privately held real estate consulting firm -- for its real estate management project in Nepal.

In addition to that, AIS is also launching retail venture, through which it will be introducing major international brands in Nepal.

AIS has been providing consulting services to major retail properties, publications and food and beverage units in Nepal since five years.
“The agreement with Cushman & Wakefield-India is a major step toward the development of managed retailing scene in Nepal and we will continue our best efforts to deliver world class consulting services in Nepal,” Nishant Prabhat Shrestha, managing director of AIS, said.

Till date, AIS has worked with five major shopping malls -- Civil Mall, City Center, People’s Plaza, Kathmandu Mall and United World Trade Center - in Kathmandu. It is currently working with three upcoming malls in different parts of the country.

According to AIS, Cushman & Wakefield started operations in India in 1997 and is the first international real estate service provider to operate as a wholly owned subsidiary in India.

Besides mall management, AIS has also been providing business consulting services to Nepal’s media groups and various food and beverage outlets across Nepal.

According to Shrestha, AIS is launching retail venture to improve the retail market in Nepal and to provide fresh stocks of branded products as per the demand at affordable price.

“Currently, branded products that comes to Nepal are mostly old stocks and that is spoiling the retail market which is ultimately hampering the business of malls,” said Shrestha, adding that retail business will boom if good brands are available.

Source: Republica