Global real estate consultant Cushman & Wakefield (C&W) has acquired its alliance partner in Turkey, P&D Real Estate Consultants, as part of its continuing expansion across Europe. P&D, which is based in the Turkish city of Istanbul, was founded in 1988, becoming Cushman & Wakefield's partner in the Turkish market in 1991. The Managing Director of P&D Real Estate Consultants, Rahsan Cebe, becomes a Partner of Cushman & Wakefield and Managing Director of the Turkish office of Cushman & Wakefield.
Paul Bacon, CEO EMEA of Cushman & Wakefield, says: "Turkey is one of Europe's most dynamic markets. The country is attracting interest from a wide cross-section of clients; yields and returns are higher than those in the more developed markets of Europe, and economic growth prospects are strong. We are delighted that we have been able to complete this agreement with our long-standing associates in Turkey, and to be opening our first office in a country of such strategic significance for our firm."
Rahsan Cebe, Managing Director of Cushman & Wakefield in Turkey, says: "Being part of Cushman & Wakefield puts us in a prime position to offer our national and international clients access to the full range of services offered by Cushman & Wakefield not just in Turkey but also globally, as well as enabling us to be part of one of the strongest and best-recognised brands in real estate."
Key recent transactions/instructions in which Cushman & Wakefield (Cushman & Wakefield in alliance with P&D) has been involved in Turkey include:
- The sale of a site in Merter, Istanbul, for
