CBRE Reports Increase In Revenues

By CB Richard Ellis via Wikimedia Commons

Earlier today, CBRE, a commercial real estate giant, reported an increase in revenue amounting to 15 percent over the second quarter of the year. It comes amid strong growth in the European markets of the company.

The firm’s revenue for the three months up to the 30th June was able to reach $5.1 billion (£3.9 billion). It was largely driven by a 29 percent revenue increase in Italy, France, the Netherlands, and the United Kingdom.

While Bob Sulentic, the boss of CBRE said that the company is “mindful of potential risks on the horizon, particularly from heightened trade tensions,” the firm has yet to feel any international effect from the looming tariff war that is rising between China and the United States of America.

However, the Asia-Pacific sales revenue of the company plunged by 12 percent. It affected the quarterly global property sales which edged up by only one percent.

However, the growth figures over the past three months have pushed up its revenue for the first half of 2018 of CBRE to almost $10 billion, an increase of 15 percent as compared tp the previous year.

The chief executive of Europe, Middle East and Africa (EMEA) at CBRE, Martin Samworth, stated: “This growth, driven by France, Italy, the Netherlands and UK, reflects the broad diversification of our business, with increased revenue contributions from our outsourcing business, as well as some notable successes for our advisory and transaction teams.”