Colliers International announces end of affiliation with P&I in Portugal
New partner sought in Portugal as Colliers continues to build market leading EMEA platform
EMEA, 30 September 2020 – Leading global commercial real estate services and investment management firm Colliers International (NASDAQ and TSX: CIGI) today announced the end of its affiliation with its partner in Portugal, P&I, Propriedade e Investimento, Consultores em Investimento Imobiliario, Lda (“P&I”), effective immediately.
A change in strategy for P&I which, focusing on professional services and the desire to maintain its independence, no longer fits within Colliers’ long term EMEA strategic growth plan has resulted in a mutual and amicable decision to part ways.
Colliers’ CEO | EMEA, Chris McLernon will lead a strategic review to identify a country leader for the development of Colliers’ new business in Portugal and will seek out new partners and top professionals to ensure Colliers maintains a market leading presence across Portugal.
“Portugal is an important market for Colliers as we continue to build out our leading EMEA platform,” said Chris McLernon, CEO | EMEA, Colliers International. “We intend to maintain our reputation as a market leading transactional and advisory business, offering best in class services to our investor and occupier clients across Portugal.
“We are dedicated to driving exceptional results with the right property solutions for clients, wherever we operate, so we will be seeking opportunities to partner with professionals that strengthen our capabilities in capital markets, leasing, valuation and occupier solutions. Experts that will provide us with specialised market knowledge and deep client relationships that will easily integrate into our EMEA platform.”
Currently providing advice to a number of multi-national corporations, developers and investors, Colliers intends to build its future business in Portugal upon existing strong foundations, through which 4,000 professionals operate from 42 countries across the EMEA region.
“We’d like to thank the owners, managers and all staff of P&I for their 20 plus years of contribution to servicing Colliers brand and clients and wish them well in their new business ventures,” concluded McLernon.