Property & Life Magazine
REAL ESTATE
Issue 05
Engel & Völkers sees double-digit growth in first half-year of 2013
T
he Engel & Völkers Group is continuing on its course of record growth already embarked upon in the first months of the year. After the strongest first quarter in the Company’s history, revenue growth in the second quarter of 2013 is at a double-digit percentage rate. In total, turnover from commission generated by the Group with its licence partners operating in 37 countries on five continents rose by 18.8 percent to 123.9 million euros (period in the previous year: 104.3 million euros). Turnover is increasing particularly strongly in foreign markets where the Group commission revenues have risen by a total of 30.0 percent to 46.5 million euros (35.8 million euros). Group commission revenues from the brokerage of commercial real estate also rose significantly, by 27.4 percent to 28.3 million euros (22.3 million euros). With growth of 6.1 percent to 49.0 million euros (46.2 million euros), brokerage operations in residential property in Germany also achieved a new record result once again. Internationally, Engel & Völkers underwent especially strong growth on the American continent and in Southern Europe. A clear recovery of the property market and the ongoing expansion of the Company’s network with the opening of new residential property shops in the USA led for the licence partners in Florida to a
About Engel & Völkers:
growth in commission revenues of 50 percent, and of almost 90 percent in California. The rate of growth in South America was almost 70 percent. “The intensive efforts to expand our network outside of Europe are having a positive impact,” said Christian Völkers, CEO of Engel & Völkers AG. “We are seeing substantial opportunities for growth abroad, on the basis of the strengthening economic situation on the real estate market. The broadly-based formation of our network puts us in a good position to make extensive use of these opportunities.”
“The broadly-based formation of our network puts us in a good position to make extensive use of these opportunities” Residential shops in southern Europe countries also profited from a further recovery of the property markets. In addition we have had a new Regional market centre open in February 2013 in Malta with 5 lounges strategically placed on the island. They have had a successful start to the year with growth plans in place for 2013. A new Metropolitan market centre in Barcelona recorded a success resulting in overall revenue growth of 65
percent in the first half year of 2013 in Spain mainland. Revenues on Majorca also saw a considerable growth rate of 29 percent. The strong demand for capital investments continues to have a positive effect on the business division for commercial estate, although this potential cannot be fully utilised due to a lack of sufficient offerings on the market. Engel & Völkers is forecasting further strong growth over the remainder of the year, meaning that the Company expects to close 2013 once again with record financial results.
For further information please contact: ENGEL & VÖLKERS SARA GRECH * Malta License Partner of Engel & Völkers Residential, Commercial, Yachting GmbH Sara Grech CEO / President Regional Market Centre The Emporium Rue D’Argens, Msida Phone: 00356 23470000 Email: malta@engelvoelkers.com
Engel & Völkers is one of the world’s leading service companies specialised in the sale and leasehold of premium residential property, commercial real estate and yachts. With its licence system, Engel & Völkers is the only Germany-based firm to rank amongst the top 100 franchise companies in the world.* Around 500 residential property shops specialised in high-class real estate and 44 commercial offices brokering retail, office and industrial space, investment properties, multi-purpose apartment and office blocks and property portfolios offer both private and institutional clients a professionally tailored range of services. Leasing, sales, consultancy and valuations form the core competences of the staff of around 4,300 employees. The Company is currently operating in 37 countries on five continents. Intensive training schemes in its in-house real estate Academy and the high level of quality assurance governing its systematically structured service provision are key factors that account for the Company’s success. In 2012, Engel & Völkers was named the most valuable property brand in Germany in the category “Property broker” by the European Society for Real Estate Brand Observation (EUGIMB). * Source: Franchise Direct “Top 100 Global Franchises Ranking”
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