In the first half-year of 2015, the Engel & Völkers Group generated overall commission revenues of 181.7 million euros. This marks a 36.5 percent increase in turnover compared to the same period in the previous year (first half-year of 2014: 133.2 million euros). It also reflects the Group’s continuation on its course of growth. “Our strong expansion strategy within and outside of Europe is having a positive impact,” said Sven Odia, Co-CEO of Engel & Völkers AG. This substantial growth can be attributed to the healthy state of the real estate economy and the strong presence of the brand – particularly in Germany, Spain, Italy, North America and Switzerland.
The large-scale expansion of the network with the addition of new residential property shops has resulted in a 116 percent rise in revenues in the USA. On the Spanish mainland, residential property shops recorded a 55 percent rise in revenues. The Market Center concept, established in 2013, has contributed to this clear growth trend. The concept envisages central office spaces in the world’s metropolitan and holiday home hotspots, from which up to 300 sales advisors broker high-end residential and commercial real estate throughout the entire metropolitan area or region.
Engel & Völkers forecasts continued strong growth in the second half of the year too. It will continue to open new shops, offices and market centers in key strategic growth markets. Further expansion will also see an increase in the need for qualified staff. “By the end of 2015, we aim to recruit 2,000 new sales advisors and increase our global workforce to over 7,000,” Mr. Odia added.
Italy Expansion in the first semester of 2015
Engel & Völkers is strongly expanding also in Italy, one of the markets where the presence of the network is more significant. In fact, the total turnover of the Licence Partners of Engel & Völkers in Italy has grown up to 71% in the first semester of 2015 in comparison to the same period of last year.
Today Engel & Völkers Italia has a total of 46 licence agreements and 30 operational shops in various cities and holidays locations.
In 2015 licence agreements have been undersigned in prestigious locations in Lombardia, Tuscany and Sicily and in addition to the inaugurations of the Monza, Ragusa Shops and Milano Commercial Office, the Group forecasts a further growth opening in important cities like Alassio, Bologna, Bolzano, Cortina d’Ampezzo, Imperia, Milano Porta Venezia, Padova, Pescara, Peschiera, Olbia, Siracusa, Verona.
Engel & Völkers is one of the world’s leading service companies specialised in the sale and rental of premium residential property, commercial real estate, yachts and aircrafts. Around 580 residential property shops specialised in high-class real estate and more than 65 commercial offices. Leasing, sales, consultancy and valuations form the core competences of the staff of around 6,300 employees. The Company is currently operating in 39 countries on five continents.