Colliers profits almost double - commercial mortgages

01 August 2007

Colliers CRE has announced that its pretax profits almost doubled in the first half of 2007, belying claims that the commercial property sector is now on the downturn.

The real estate firm said that profits rose to more than three million in the first half of the year, with fee income rising to just under £50 million – an increase of more than a third, according to the Reuters news agency.

"Whilst it is true that yields are softening in some areas of the market...there is a weight of money from the UK, Europe and further afield waiting to be invested in real estate," commented Colliers chair Sir John Ritblat.

"Given the background of a continuing strong economic outlook for world economies, property demands from occupiers and investors are set to remain robust in the UK and Europe," Sir John added.

Earlier this year Colliers was ranked 19th on the Global Outsourcing 100 list compiled by the International Association of Outsourcing Professionals (IAOP).