Cushman & Wakefield Echinox recorded 15% revenue growth in 2023 in a stagnant market and now ranks #2 among real estate consulting companies in Romania

Cushman & Wakefield Echinox ended 2023 with revenue of €12 million, marking an increase of 15% compared to the previous year. This impressive growth propelled the company to second place among real estate consultants in Romania, in a year marked by stagnation in this business segment.

The company’s growth drivers included both its brokerage services business lines – office, retail, industrial and capital markets – and its professional services – asset management, project and development, certifications, valuation and research.

Oana Iliescu, Managing Director of Cushman & Wakefield Echinox: “The remarkable evolution of our business is the result of the effort of the entire team, which maximized the opportunities generated by new trends, while having a great ability to anticipate market changes. In addition to the 2023 results, I must point out that between 2020 and 2023, one of the most difficult and uncertain periods for both tenants and owners, Cushman & Wakefield Echinox managed to increase its turnover by more than 150% .”

The office department was the company’s best performer in terms of revenue generation, with leasing transactions totaling 113,000 sqm and a market share of over 26%. This performance positioned Cushman & Wakefield Echinox as the leader of the office leasing market in Romania.

Last year, the Retail Agency mediated 26 leasing transactions totaling approximately 30,000 square meters in Bucharest and in the major cities of the country, for clients such as Leroy Merlin, Peek & Cloppenburg, Somproduct, Mobexpert, Noriel, Jimmy Key and Wittchen.

In addition, the company consulted on transactions totaling nearly 40,000 sq m related to industrial and logistics spaces, while the sale of the K+K Hotel in Bucharest, the most important transaction on the hotel market in 2023, also contributed to the constant growth of who rejoices. by Cushman & Wakefield Echinox.

The Asset Services department expanded its portfolio with new properties and tenants, reaching almost 500,000 sq m of assets under management, while the valuation team assessed over 400 properties.

Also, the project management department won an important number of new mandates and expanded its ecological certification services, the most notable project being the eMAG portfolio in Romania and Hungary.

Cushman & Wakefield Equinox is a leading real estate company on the local market and the exclusive affiliate of Cushman & Wakefield in Romania, independently owned and operated, with a team of over 80 professionals and collaborators offering a full range of services to investors, developers, owners and tenants. For more information, visit www.cwechinox.com.

Cushman & Wakefield (NYSE: CWK ) is a leading global commercial real estate services firm for property owners and occupiers, with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2023, the firm reported revenues of $9.5 billion from its core services of property, facilities and project management, leasing, capital markets and valuation and other services. For additional information, visit www.cushmanwakefield.com.

*This is a press release.