Franchise news

26.02.2006

Engel & Völkers looking to further expand in Asia and the USA

Last year, with a turnover of €82.5m, the equivalent of a 66% increase, the real estate business, Engel & Völkers, enjoyed the most successful year in its company history. The company announced that, in 2005, its brokerage turnover from its residential properties rose by 64.7 % to €53.2m and for its commercial real estate by 81.5 % to €24.5m. Sales from its services and the GRUND GENUG publishing business amounted to around €4.8m in 2005.

According to Engel & Völkers, the most successful sections were the residential properties sold in the international offices. The company grew at a particularly strong rate in Spain, Switzerland and South Africa – here both in the Western Cape as well as in Johannesburg and Pretoria.

This year, the franchisor is planning to concentrate on the most important markets in Asia and the USA. Head offices are due, therefore, to be opened soon in New York and Hong Kong. Engel & Völkers currently has around 170 offices in Germany, practically all European countries, the USA, South Africa, the UAE and South-East Asia. 17 of these branches concentrate on commercial properties. Plans for 2006 are to increase the number of offices dealing in residential properties to 250 by the end of the year.


ENGEL & VÖLKERS (D)

selling high quality residential and commercial properties
» to the franchisor


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