29.08.08
In 2007, the revenue of CB Richard Ellis Group increased by 49.7%, reaching $6 billion. In the same period, the Company’s diluted EPS has increased by 23%, reaching $1.66. The company’s reported net income last year reached $390.5 million, compared with the $318.6 million made in 2006. In 2007, CBRE Group’s EBIDTA increased by 27.7 as compared to 2006 and totaled $834.3 billion. The revenue made by CB Richard Ellis Group in Europe, Middle East and Africa in 2007 totals $ 437.6 billion, compared to $362.5 million made in 2006. On 6 September 2007, Fortune magazine ranked CB Richard Ellis Group, Inc. 33rd among 100 fastest-growing American companies in 2007 based on the following parameters: a composite of three-year revenue, earnings per share and return to shareholders.
CB Richard Ellis represents 88 of the FORTUNE 100 companies and offers an unrivaled range of commercial real estate services on a global basis. The company was responsible for more than $264 billion of property sales and lease transactions in 2007, and managed more than 1.9 billion sq. ft. (including those managed by affiliates) of commercial properties and corporate facilities as of 31 December, 2007.
CBRE won the Retail & Leisure International (RLI) Property Specialist of the Year Award at the Global RLI Awards. The awarding ceremony took place on 12 June at Wimble, London. This global victory is a great achievement of retail real estate department of CBRE, which also certifies the high level of services provided in the area of property acquisition all over the world, including investments, innovations, management and consulting. СB Richard Ellis was awarded in this nomination for the first time, being in advance of other finalists: Cushman & Wakefield and Jones Lang LaSalle.
On 17 July 2008, CB Richard Ellis organized a press conference at Ararat Park Hotel as part of its Board’s official visit to Europe, Middle East and Africa. The main subject of this press conference was the research results of real estate market in the first two quarters of 2008.
A Canadian developer and global property owner Ivanhoe Cambridge and an Austrian investment Company Europolis bought a shopping center Vremena Goda in Moscow. The prime shopping center, where Ivanhoe Cambridge owns 60% of the stake and Europolis -40%, opened in November 2007. For Ivanhoe Cambridge, it is the first purchase in the Russian real estate and is expected to be highly attractive for investors.
According to CB Richard Ellis, the growth of land prices in Japan during the next few years will not be as fast as before. And the reason for this slow-down is the US mortgage crisis, which made investors more cautious. Modern office buildings in downtown Tokyo earn about 3% a year, whereas offices located elsewhere in Tokyo and other major cities, as well as residential houses and suburban stores which depreciated by 20% earn up to 5,5%. In 2007, land in Japan appreciated by 10% on average and the price of one square meter reached ¥143 thousand ($1.35). According to the report made by local tax authorities, prices have grown by 8.6% in 2006. The growth of Japan’s real estate market is directly contingent on the improvement of the loan situation.
The winner of "The Best Large Retail Center" nomination at Commercial Real Estate Federal Awards 2008 was announced in Sochi. Royal Park Shopping and Entertainment Center constructed in Novosibirsk took the "Golden" Brick Prize. The Center was under CB Richard Ellis’s Management for the past year.
Royal Park (total area – more than 70,000 sq m) was opened on November 24, 2007 in Novosibirsk. It is located on the central street – Krasnyi Avenue. 114 operators in Royal Park (the majority of which are anchor tenants) are presented on the Siberian market for the first time. The Federal Award Ceremony took place as part of Commercial Real Estate Summit conducted by the industry’s leading expert magazine – Commercial Real Estate. The Summit brought together top specialists in the industry who discussed the issues related to regional investment and development and management of regional projects.
