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CBRE to Discontinue Most Business in Russia

March 08, 2022, 07:55 AM
Filed Under: Industry News

CBRE Group announced a decision to discontinue most of its business in Russia in response to the horrific attack on Ukraine. The company has begun the process of exiting its office in Moscow, which provides leasing, investment, property management and valuation services, and terminating two existing affiliate relationships in the country. Consistent with its contractual obligations, CBRE will continue to manage facilities and provide other essential services for existing multi-national clients that are operating in Russia.

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% of CBRE’s global revenue in 2021.

CBRE has strongly denounced Russia’s invasion of Ukraine. The company continues to provide physical and direct monetary assistance for employees of CBRE’s affiliate in Ukraine who are in need. In addition, CBRE people have given generously to the company’s global fundraising campaign to benefit the UNHCR, the UN Refugee Agency’s equitable humanitarian relief efforts.

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