Global real estate services firm Colliers has announced it is discontinuing operations in Russia and Belarus after 28 years with immediate effect.
In a statement, the firm said: 'Colliers stands with the people of Ukraine, an independent country, and strongly condemns the invasion by the Russian military. These actions are indefensible and in complete contrast to the principles of democracy and freedom.
'We fully support all appropriate sanctions enacted by the international community and, in response to the gravity of Russia’s aggression, Colliers has discontinued its business in Russia and Belarus, effective immediately, after more than 28 years of operations.
'We thank our former colleagues and partners for their work over the years and wish them well as they navigate the future.'
Added Jay Hennick, global chairman & CEO of Colliers: 'I am appalled and saddened by the unnecessary loss of life and the displacement of millions of Ukrainians from their home. We cannot and will not stand idly by. Our decision to exit Russia and Belarus is one we make with conviction.'
Colliers said it continued to prioritise the safety and welfare of its people and clients in Ukraine, as well as in the broader CEE region.
The statement continued: 'As a result of this crisis, our affiliate office in Kyiv is closed and all business operations there have been suspended.
'We are focused on supporting our Ukrainian colleagues who remain in country, those who are seeking refuge, and the families of our people who have been affected.
'Our operations in neighbouring countries are actively providing temporary accommodation, monetary support and other necessities. We are moved by the outpouring of support from Colliers people around the world who have reached out to help in every possible way.'
The company and members of senior leadership have made significant donations to the Ukraine Crisis Appeal via the International Committee of the Red Cross and other humanitarian charities.
Colliers is also matching donations from its staff through the Colliers Crisis Fund to maximise support toward humanitarian relief.
