C&W Portugal increases turnover in 2006

28 Feb, 2007, Lisbon

In Portugal, turnover of €6.824 million was achieved, consolidating C&W’s position as market leader
In the EMEA region, C&W recorded growth of 29.4% compared with 2005

Global real estate consultant Cushman & Wakefield (C&W) recently announced the results of its Portuguese and worldwide operations for 2006.

In 2006, the property consultant recorded turnover of €6.824 million in Portugal, slightly above the 2005 figure. Meanwhile, activity in the EMEA (Europe, Middle East and Africa) region grew by 29.4%, generating sales of €313.8 million.

The total turnover of Cushman & Wakefield was €1.139 billion, which represents growth of 23%.

In Portugal, where C&W celebrated 15 years of activity last year, the firm’s capital markets team was responsible for some of the most important real estate transactions of 2006, including the sale of the Picoas Plaza shopping centre in Lisbon, Media Markt in Braga and the emblematic Versailles Building in Lisbon.

The retail team was responsible for the leasing of around 32,000 sqm of new retail space, while the offices team was involved in a number of major transactions such as the leasing of the new headquarters of companies such as BBDO, DDB, Águas de Portugal, Axa Seguros, EDP, Air France/ KLM and Levi’s, among others. C&W’s Industrial Department completed 17 transactions in 2006, with a collective value of €15 million, involving over 125,000 square metres.

In the EMEA region, Cushman & Wakefield handled more than 1 million square metres of office space, 13 million square metres of retail space (comprising 300 shopping centres) and investment transactions worth €17 billion (40% more than in 2005).

According to Eric van Leuven, Managing Partner of Cushman & Wakefield in Portugal, “2006 was really positive, but we’ve got ambitious goals for the coming years. We hope to reach a turnover of €10 million by 2010, though both increasing our market share and introducing new services, especially in the residential investment sector.”

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