Engel & Völkers reports record first quarter 2015 results
The Engel & Völkers Group remains on its course of expansion and today announces record financial results once again for the first quarter of 2015. The Group have reported a 25.1% rise in commission revenues over the same period in the previous year to 76.7 million euros (Q1 2014: 61.3 million euros). This substantial growth can be attributed to the good economic climate on real estate markets and the strong presence of the brand – especially in Germany, Austria and Switzerland, as well as in key metropolises and holiday regions in the Mediterranean and the USA.
“We are extremely satisfied with the results for the first quarter of 2015. This continued upward trend shows that we are on the right track with our expansion strategy,” said Sven Odia, Co-CEO of Engel & Völkers AG. Engel & Völkers is forecasting continued growth over the remainder of the year. It will be driving expansion forward with the opening of new shops, offices and market centres in strategically important growth markets. The company is currently expanding its workforce on a substantial scale, with a view to meeting the high demand for real estate in these core markets. By the end of the year it is looking to recruit 2,000 new sales advisors worldwide.
Following on the international growth that Engel & Völkers have experienced, it is with great excitement that the growth in South Africa footprint has increased with new shops opening in key areas. “Both sales and recruitment of Property practitioners in South Africa has seen a significant growth since the beginning of the year,” says Craig Hutchison, CEO of Engel & Völkers Southern Africa. “With our focus being on recruiting top quality Property Practitioners, both with experience and interns, it has definitely resulted in increasing our brand awareness throughout the country”, he added.
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