DTZ Echinox reports EUR 2.8 million turnover for 2010

Newsroom 21/02/2011 | 12:27

Real estate consulting company DTZ Echinox reported a EUR 2.8 million turnover at the end of 2010, a slight increased from EUR 2.65 million, the value registered the previous year, and a 6 percent approximate profit rate. The most important contribution to the turnover of the company was represented by the professional services provided: property management, valuations, and, within the agency, the office sector. The profit registered by the professional departments – property management and valuations – represent 50 percent of the DTZ Echinox last year’s.  The strongest year on year growth has been registered by the property management and office departments, which doubled their revenue in 2010.

The property management division won early last year the property management of Shopping City Suceava and Shopping City Sibiu, two retail parks owned by Argo Real Estate Opportunities Fund, totaling 133,000 sqm, and the contract for the refurbishment of Iris Shopping Center in Titan (pictured), a 14,000 sqm shopping center, in the property of Aberdeen Immobilien, with Auchan hypermarket as main anchor.

The office department of DTZ Echinox has mediated the lease of 25,000 sqm of office space in 2010, net take-up and 32,600 sq m gross take-up. The main transactions include the lease of 11,735 sqm by Sanador, in the building developed by Castrum Corporation, on Sevastopol Street, a contract of 4,000 sqm in Amera Tower, for ING Insurances that opened a regional center in Cluj, and relocation of Avon in Euro Tower on 1,200 sqm office spaces. DTZ Echinox has started a partnership with Vitalis Consulting last year in order to provide project management services for office fit-out and relocations. This new business line continues a successful partnership between the two companies to provide complete solutions for tenants, starting with lease mediation and going forward with assuring technical and logistical support during the relocation, expansion etc..

Throughout 2010 DTZ Echinox provided 350 valuation reports for properties whose value exceeds EUR 2 billion and portfolio assessment for companies as Petrom, Ţiriac Imobiliare, NEPI, Avrig 35 and Dinu Patriciu Global Properties. The company also delivered consultancy services, feasibility and best use studies for important developers: BelRom Real Estate, Tiriac Imobiliare, Cefin Real Estate and Baneasa Developments.

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