Catella Property Group saw investment transaction volumes plunge 78% in 2009 to EUR 2.16 bn from EUR 10 bn the previous year. The decline - the second-biggest recorded by PropertyEU in its annual survey of Europe’s leading brokers - puts the Swedish group in eighth place this year compared to fourth position a year earlier.
Catella Property Group saw investment transaction volumes plunge 78% in 2009 to EUR 2.16 bn from EUR 10 bn the previous year. The decline - the second-biggest recorded by PropertyEU in its annual survey of Europe’s leading brokers - puts the Swedish group in eighth place this year compared to fourth position a year earlier.
The ranking was topped this year by CB Richard Ellis and Jones Lang LaSalle, followed by Cushman & Wakefield and DTZ.
In an interview with PropertyEU, CEO Johan Ericsson described last year’s performance as ‘disappointing’ but said he was upbeat about prospects for the coming year following his company’s merger with IT services company Scribona.
‘2009 was a record low for us, the market was really down. The decrease was partly due to the fact that we exited some markets such as Russia and Poland. On the
other hand, the 2008 figure was very high due to some of the hangover (of business) from 2007. In July 2008, for example, we advised on the Vasakronan deal (the biggest
property deal in Europe in 2008 with a value of EUR 4.3 bn, ed.) This year is looking much better. In the first half, we already reached the same level as for the whole of 2009. We expect to reach about EUR 6 bn this year.’
The newly merged group will have 420 employees in 14 countries and aims to obtain a listing on the main list for Nasdaq OMX Stockholm. The existing Catella management team, including Ericsson, is now in charge of the expanded group.
