Engel & Volkers with €200 million turnover by 2021
The luxury German estate agency will enjoy a projected turnover of €200 million in Portugal by 2021.
The company recently launched its Portugal Market Center in Lisbon in which it invested €1.3 million.
In 2018 E&V achieved a turnover of €80 million with €4 million alone on commissions.
The figures were revealed by the company on Thursday (11July) during the official opening of its headquarters in Lisbon.
The new office is on Avenida da Liberdade and occupies a 400 m2 space. It adds a flagship office to the others it has in Barcelona, Rome, Paris and New York.
“We wanted a space that was centrally located from which to work Lisbon market. The office is open space, has 500 m2 and can accommodate a team of 150 estate agents” said Juan-Galo Macià, CEO of Engel & Volkers Spain, Portugal and Andorra.
The company aims to achieve a turnover of €200 million within three years via this Market Center. “I go to be thinking about this figure” says Pedro Branco, General Director of the Center.
At present the Market Center has 75 staff but will upscale to 150 estate agents who will receive training at the Engel & Volkers academy in Hamburg.
In 2019 the company aims to increase the share of Portugal’s turnover to 10% of sales from the entire group on the Iberian peninsula.
“Lisbon is in fashion and the figures show this. In the last year alone over €6Bn in property sales were turned over in Lisbon” says Juan-Galo Macià.