Commercial real estate firms see revenue rise by over a fifth
Jones Lang LaSalle and CBRE, the US-based commercial real estate firms, have reported that their turnovers have grown by at least a fifth since the same quarter last year.
CBRE saw its revenue increase by over a quarter, growing from $1bn in the third quarter of 2009 to $1.3bn this year. Profit more than quadrupled, soaring to $57m, compared to $12.4m in 2009.
Revenue at JLL grew 20% in local currency compared to Q3 in 2009, rising from $595.3m to $708.4m, while net income was up to £37m from £20m last year.
Growth in both companies was driven by an upturn in leasing revenue, which grew by 36% at JLL and 27% at CBRE.