Fri, Feb 10 2012

CB Richard Ellis will increase its investment in Bulgaria

Tue, Mar 10 2009 15:06 CET

byNick Iliev

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CB Richard Ellis will increase its investment in Bulgaria

CB Richard Ellis, the commercial real estate company (CBRE) has acquired a new partner in Bulgaria as it tries to establish a stronger presence in central and eastern Europe. The firm has recently signed a contract with the Bulgarian consulting real estate company MBL after it acquired the Romanian company Eurisko Consulting last year.

CBRE has also signed a partnership deal with the Greek Atria Group.

"As it continues to expand its network in the region, offering vital decisions on local and global scale, CBRE is improving its potential to consult clients in the best and most efficient possible way in this vibrant and competitive market. Bulgaria is a country of great significance in the region, with a very positive outlook for the long-term future which will stimulate substantially the real estate market," said Colin Wadle, CBRE director of central and eastern Europe.

CBRE's new contract in Bulgaria will increase its capability and capacity for attracting a greater pool of clients. Wadle believes that this will enlarge the company's platform and in Bulgaria as it will attract more international clients.

"The company will diversify in all segments of the real estate business, with special attention being paid to hotels and hotel management," said Wadle.

"After evaluating a string of different alternatives, we reckoned that the best alternative for our company is to have a partnership with CBRE. Considering their global coverage in the sector and their leading position in the business, it makes perfect sense for us to work with them," said Assen Lisev, MBL general director.

Co-operation with MBL has come as the latest strategic move for CBRE. The company's former partners in Bulgaria were Elta Consult.

Source: PropertyWiseBulgaria http://www.propertywisebulgaria.com/article/cb-richard-ellis-will-increase-its-investment-in-bulgaria/id_3177/catid_26

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