Commercial Real Estate Brokerages in an Uncertain Russian Market
Commercial Real Estate Brokerages in an Uncertain Russian Market
Abstract
CBRE and JLL have joined the growing list of companies temporarily suspending or terminating operations in Russia. Other major players, including Savills, Knight Frank, and Colliers, have already suspended operations in the country. The list of businesses pulling out of Russia continues to grow, with oil companies like Shell and BP, shipping companies like FedEx and UPS, and tech giants Apple and Google all stepping back from Russia. U.S. real estate workers are already seeing early signs of skittishness. The U.N. may see a slowdown in Russian markets. The trend of Russian capital in foreign real estate markets is likely to continue. In addition to the fear and pushback of U.K. assets in the U.C.