04. Juni 2012 
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CBRE expands its EMEA business with acquisition of affiliate in Turkey
CBRE Group, Inc.has acquired its affiliate company in Turkey, responding to increased demand from clients targeting new commercial real estate opportunities in that country. The affiliate has offered valuation, leasing, investment, research and consultancy expertise in Turkey for more than 20 years and its client base includes local and regional property companies as well as multi-nationals operating and/or investing in that country.
Anthony Labadie has been appointed as Managing Director of CBRE’s Turkey operations. Labadie joined CBRE’s Spanish business in 2004 and established the company’s Casablanca office in late 2005. In 2008, he returned to Spain and has led its successful Global Corporate Services offering since then. Feroze Bundhun, the affiliate’s Managing Director, remains with the business as a consultant to CBRE in Turkey.
Anthony Labadie, Managing Director, CBRE, Turkey, commented:
“Turkey’s position as a strategically important country, which provides a link between Europe, the Middle East and Asia has been enhanced by its recent strong economic performance, stability and demographic trends. The real estate market’s performance has been particularly robust. The country’s prospects in 2012 and beyond are exciting and I’m delighted to be leading this experienced team in its next phase of growth.”
Turkey, which has a population of 80 million, has built up a strong record of economic and political stability. It recorded the biggest GDP growth of any European country in 2011 (8%). Its economic performance, and the emergence of an increasingly young and prosperous middle class, has resulted in increased confidence among retailers, developers and investors in the country. Major international retailer brands are expanding aggressively in this market and Turkey also currently has the highest shopping centre development pipeline in Europe.
Istanbul is ranked highest in Europe for both investment opportunities and for city development prospects, according to a recent Urban Land Institute analysis. The hotel and retail markets are experiencing particularly strong growth and the office market in Istanbul remains active with sustained rental growth and low vacancy rates. The office market is focused on Istanbul with 2 million sq m of institutional quality stock. The occupier market is active with low vacancy rates and many multinationals completing lease transactions in 2011.
Anthony Labadie has been appointed as Managing Director of CBRE’s Turkey operations. Labadie joined CBRE’s Spanish business in 2004 and established the company’s Casablanca office in late 2005. In 2008, he returned to Spain and has led its successful Global Corporate Services offering since then. Feroze Bundhun, the affiliate’s Managing Director, remains with the business as a consultant to CBRE in Turkey.
Anthony Labadie, Managing Director, CBRE, Turkey, commented:
“Turkey’s position as a strategically important country, which provides a link between Europe, the Middle East and Asia has been enhanced by its recent strong economic performance, stability and demographic trends. The real estate market’s performance has been particularly robust. The country’s prospects in 2012 and beyond are exciting and I’m delighted to be leading this experienced team in its next phase of growth.”
Turkey, which has a population of 80 million, has built up a strong record of economic and political stability. It recorded the biggest GDP growth of any European country in 2011 (8%). Its economic performance, and the emergence of an increasingly young and prosperous middle class, has resulted in increased confidence among retailers, developers and investors in the country. Major international retailer brands are expanding aggressively in this market and Turkey also currently has the highest shopping centre development pipeline in Europe.
Istanbul is ranked highest in Europe for both investment opportunities and for city development prospects, according to a recent Urban Land Institute analysis. The hotel and retail markets are experiencing particularly strong growth and the office market in Istanbul remains active with sustained rental growth and low vacancy rates. The office market is focused on Istanbul with 2 million sq m of institutional quality stock. The occupier market is active with low vacancy rates and many multinationals completing lease transactions in 2011.
