The international real estate services provider Colliers recorded significant revenue growth in the third quarter of 2026. Compared to the same period of the previous year, group revenue rose by twelve per cent to 1.64 billion US dollars. Net revenue amounted to 1.43 billion US dollars, representing an increase of 13 per cent. On an organic basis, the increase stood at three per cent. Looking at the first nine months of 2026 cumulatively, the corporate group generated total revenue of 4.52 billion US dollars, 14 per cent more than in the previous year period.
All three of the group's business divisions contributed to the positive business performance. Recurring revenue sources once again proved to be a decisive anchor of stability, with around 70 per cent of adjusted EBITDA over the past twelve months attributable to segments with contractually secured or ongoing earnings.
Results of the individual business segments
In the traditional Commercial Real Estate division, revenue grew in the third quarter by five per cent to 994.8 million US dollars, while net revenue increased by six per cent to 877.0 million US dollars. The capital markets business showed noticeable momentum with an increase of nine per cent, driven primarily by the markets in the US, Canada and the EMEA region. Towards the end of the quarter, increasing interest rate volatility noticeably dampened the transaction appetite of market participants. The leasing segment performed steadily despite an already strong comparison quarter, rising by six per cent.
The strongest growth was recorded by the Engineering division. Here, revenue climbed by 33 per cent to 497.6 million US dollars, with net revenue even rising by 37 per cent to 415.1 million US dollars. Key drivers of this expansion were corporate acquisitions combined with solid organic growth. The Investment Management segment increased its revenue by six per cent to 145.0 million US dollars, which represents a growth of seven per cent on a currency-adjusted basis. Assets under management stood at 110.5 billion US dollars as of 30 September 2026, two per cent more than in the previous year.
- —Group revenue in the first nine months of 2026: 4.52 billion US dollars (+14 per cent)
- —Revenue in the Engineering division in the third quarter: 497.6 million US dollars (+33 per cent)
- —Commercial Real Estate revenue in the third quarter: 994.8 million US dollars (+5 per cent)
- —Assets under management in Investment Management as of the reporting date: 110.5 billion US dollars
More conservative outlook for the full year 2026
Despite the gains in the past quarter, Colliers has slightly lowered its growth expectations for the full year 2026. Management now expects growth in the low double-digit percentage range for revenue, adjusted EBITDA and adjusted earnings per share. Executive management had previously projected growth rates in the mid-double-digit percentage range. Colliers attributed this adjustment to persistent interest rate movements as well as geopolitical uncertainties, which are expected to shape the market environment in the fourth quarter.
