DTZ Echinox reports 35.7% growth in turnover for 2008

DTZ Echinox announces a 5,7 mil Euro turnover for 2008, with a 35.7% growth compared to 2007. On an ever more competitive market, the company has registered in particular substantial incomes in its valuation retail and residential businesses.

The valuation department's incomes have registered a 31.5% growth in 2008. Among the most significant instructions, the team has been responsible of valuing large client portfolios such as AVRIG 35, Impact, GTC, ADAMA, AFI, Red Management, Petrom, Future Group, CCCF, NEPI Investment, best use studies, as well as over 500 valuation and market reports. In 2008, DTZ Echinox has valued properties totaling €3 billion.

In 2008, the retail team increased its income by 82.7%, managing to lease over 60,000 m² of retail space. With a portfolio that now boasts over 400,000 m² of exclusive projects, the retail department assists clients such as Atrium Centers, Plaza Centers, Immoeast and Mega Company.

The residential team has managed to maintain strong turnover for 2008, in spite of the slowdown in sales for the medium class new built apartments during the 2nd half of the year. DTZ Echinox is the exclusive agent of Monaco Towers, a compound of 304 apartments and 2 levels of commercial gallery, 7000 sq m GLA, in Berceni and Arena Residential, a 336 apartments residential complex in Tatarasi, Iasi. Both projects are close to their delivery date. The primary source of income for the residential department was represented by the upper premium and luxury segment, where DTZ has made notable transactions, both in sales and rentals.

"We have built a strong team that will capitalize on our market experience and excellent client relations. Tough times on the real estate industry call for highly professional assistance and a proactive market approach. I am confident on the success of the current portfolio of projects & clients and I have strong reasons to believe that we will attract more demand for our services over the next 9 months," says Tim Wilkinson, Joint Managing Director at DTZ Echinox

Source: DTZ

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