CBRE Group, Inc. announced that it has completed its plan to combine its project management business with Turner & Townsend, its majority-owned subsidiary.

Turner & Townsend, a global provider of program management, cost consultancy, and project management services, has been majority-owned by CBRE since 2021. CBRE now holds a 70% stake in the combined Turner & Townsend/CBRE Project Management business. Since joining CBRE as a majority-owned subsidiary in November 2021, Turner & Townsend has achieved a compound annual revenue growth rate exceeding 20%.