Demand for Digital Infrastructure Drives Data Centre Uptake
A research paper from JLL shows that the mass adoption of cloud computing and AI is driving growth in the data centre industry. According to JLL’s Global Data...
Read Full ArticleSeveral major players in the global real estate market have published statements on their stance on business operations in Russia.
On 7 March 2022, the CBRE Group announced their decision to discontinue most of its business in Russia.
This includes exiting its office in Moscow, which provides leasing, investment, property management and valuation services, and terminating two existing affiliate relationships in the country.
CBRE will continue to manage facilities and provide other essential services for existing multi-national clients that are operating in Russia.
A press statement reads: “CBRE is working diligently to support its loyal and hardworking colleagues in Russia who will transition from the company. CBRE regrets the impact that this transition will have on those employees, who are leaving the company through no fault of their own.
“The discontinued operations in Russia constitute less than 1 per cent of CBRE’s global revenue in 2021.”
Also on 7 March 2022, Colliers confirmed that they would discontinue its business in Russia and Belarus, effective immediately, after more than 28 years of operations.
“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,” said Jay Hennick, Global Chair & Chief Executive Officer of Colliers.
Colliers’ affiliate office in Kyiv is also closed and all business operations there have been suspended.
On March 11 2022, JLL confirmed that they would separate their domestic operations in Russia, and continue to support a small number of multinational clients with their transition strategies.
A media release stated: “Guided by our values, our main priority has always been to support our colleagues in Ukraine whose lives are in grave danger. We also have a responsibility to our people in Russia, who face turmoil and upheaval.”
Picture: a photograph of a commercial building. Image Credit: Unsplash
Article written by Ella Tansley | Published 17 March 2022
A research paper from JLL shows that the mass adoption of cloud computing and AI is driving growth in the data centre industry. According to JLL’s Global Data...
Read Full ArticleAs a growing number of firms seek to distance themselves from Russia after the invasion of Ukraine, what are the major players in commercial real estate...
Read Full ArticleIn the event of a Russian invasion of Ukraine, several markets could feel the effect, including energy, grain and fuel. The USA, UK and the EU have already begun...
Read Full ArticleCBRE has acquired a 60 per cent ownership interest in Turner & Townsend. The companies have also entered into a strategic partnership, whereby CBRE and Turner...
Read Full ArticleIn 2019, two eight-story towers became the new office of JetBrains in Saint Petersburg, Russia. It is now a best-in-class example of a "green...
Read Full ArticleDr. Marie Puybaraud from JLL looks at five areas where real estate leaders expect to see big shifts in the next few years. Addressing climate change directly is now...
Read Full ArticleJLL will take 38,000 sq ft at 20 Water Street, Wood Wharf to house its Docklands office. The global real estate adviser will relocate the teams currently based at...
Read Full ArticleWhat do the Minimum Energy Efficiency Standards mean for commercial property landlords and tenants in the context of a growing drive to improve the energy efficiency...
Read Full ArticleThe Emerging Workplace Leaders volunteer group has announced a change in leadership with two new co-chairs. Bianca Angelico, Director of Guest Services at Amulet,...
Read Full ArticleCBRE is the latest commercial real estate firm to announce that it will return all furlough payments claimed during COVID-19. The company will also allegedly top-up...
Read Full Article