Jones Lang LaSalle, an international property consultant, has emerged as the lowest financial bidder in a bidding which was conducted to appoint the real estate consultant to monetise Air India's properties in India and abroad, said a JLL executive. JLL is likely to appointed as the advisor for Air India to monetize its properties. Lowest financial bidder implies they have quoted lowest fee for their services.
The land monetisation is part of AI's turnaround plan. Air India is looking at monetising its 105 properties in India and abroad and they are valued over Rs 5000 crore.
However, the plans does not include selling or leasing of AI's headquarters in Mumbai which AI is doing on its own, the JLL executive said.
Global consultants such as Cushman & Wakefield, Colliers International and DTZ were other candidates in the fray.
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