Colliers International expands operations in Morocco and Belgium
12-08-2015 - Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) announced it has acquired Lance, a leading real estate investment and corporate advisory firm in Morocco. Based in Casablanca, the firm employs 15 people and provides a full range of commercial property services including sales and lease brokerage particularly for international companies operating in the region. Colliers currently employs 35 people in Casablanca and offers a range of services including tenant representation, workplace consulting and project management services.
Last month Colliers International Group Inc. (NASDAQ:CIG) (TSX:CIG) already announced the acquisition of IDB Management ("IDB"), a leading asset and property management firm in Belgium. As part of the transaction, IDB will be rebranded as Colliers International and the principals will lead its asset and property management segment going forward. The terms of the transaction were not disclosed.
"The Morocco acquisition will greatly benefit our clients with a broad range of service lines while positioning us to expand our reach to most of Western and Central African countries," said Chris McLernon, CEO of the EMEA for Colliers International. “The Benelux region remains an important market in Europe. Strengthening our capability and service offerings, particularly in the area of asset and property management, is essential to our strategy of delivering customized asset and property management services seamlessly to clients throughout Europe and the rest of the world," he concluded.