New year, new blank slate for Engel&Völkers. The German real estate agency, a leader in the intermediation of high-end properties in the world, has set the goal of opening its first establishment in San Sebastián in 2023 and doubling its profit in the next five years, as it has explained. Juan-Galo Macià, CEO in Spain of Engel&Völkers, to idealista/news. This new boost is received after being purchased by the Permira fund in 2021 for 400 million euros.
“Since we became part of a fund, the ambition has multiplied. We have just opened Seville, and our roadmap includes opening in Saint Sebastian, this time with an office managed directly by us, not with a license,” explains the manager. “In any case, we will see the opportunities that arise. Our most immediate strategy is to expand market share in the locations where we already have a presence,” he says.
In any case, the biggest jump will be five years from now. With a network of 100 offices in the Iberian market and presence through its own offices in Madrid, Barcelona, Valencia, Lisbon and Seville, the real estate company wants to double its profit before 2027. “This will be achieved with greater presence, more agents and more productivity in the Iberian market.”, explains the manager.
Before the end of last year, the company launched its first office in Seville, from where in addition to “covering” this city, it will enhance its presence in other provinces of the community such as Cádiz, where until now it was only in very exclusive areas. such as Sotogrande and other municipalities on the coast.
It is Metropolitan Market Center, which is what Engel & Völkers calls its own offices, was created with the objective of reaching an intermediation volume of more than 100 million euros and collaborating with more than 100 external real estate consultants, 70 for Seville and 30 for Cádiz, in the next 4 years.
The launch of this new own operations center will join the 12 Engel & Völkers franchises already present in Andalusia“a community that has one of the residential markets with the most potential for real estate investors, both national and international,” the group maintains.
Engel & Völkers recorded a record year in 2021. In Spain alone, the German real estate company managed to exceed, for the first time in its history, 3,000 million euros in intermediation volume after managing a total of 8,356 purchase and rental operations. A very positive behavior that he has managed to maintain in 2022, recognizes Juan-Galo Macià.
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