BNP Paribas Real Estate lifts profits by 16%

BNP Paribas Real Estate lifted both turnover and pre-tax profit in 2014, it emerged on Thursday at the company's earnings presentation.

In 2014, the Paris-based real estate arm of financial services concern BNP Paribas, reported a pre-tax profit of €172 mln, up 16% year-on-year, on turnover 8% higher at €752 mln.

France accounted for just under half – or 48% of turnover – with international activites accounting for the remainder led by the UK (23%), Germany (15%) and Italy (6%). The newly established platforms in Hong Kong and Dubai generated close to €3.5 bn of transactions over the year.

Property services (transaction, consulting, valuation, property management and investment management) accounted for 66% of revenue with commercial and residential property development generating the remaining 34%. Investment management generated the strongest growth in revenue in 2014 (+20% at €106.5 mln), followed by advisory services (+10.5% at €296 mln) and property management (+6% at €97 mln).
Property development lifted activity by 8% over the year, while residential development was up 19%.

At end-2014, the company had 3,800 employees.

See the March edition of PropertyEU Magazine for more on BNP Paribas Real Esate and the 2014 Top Brokers ranking.