Colliers International recorded significant business development in the second quarter of 2026. Consolidated revenue increased by 17 per cent to US$1.57 billion compared to the same period last year. On a constant currency basis, growth was also 16 per cent. Net revenue reached US$1.39 billion, also an increase of 17 per cent, or 16 per cent on a constant currency basis. This result is based on organic revenue growth of 8 per cent and double-digit gains across all three of the company's business segments. The positive development is attributed to a recovery in commercial real estate markets, structural growth in the engineering business, and the consistent expansion of investment management.
Development of Core Business Segments
The Commercial Real Estate segment, Colliers' core business, increased its revenue by 12 per cent (11 per cent on a constant currency basis) to US$997.3 million. Net revenue in this segment was US$891.4 million, an increase of 13 per cent (12 per cent on a constant currency basis). Particularly noteworthy is the performance of the Capital Markets and Leasing divisions, which each posted 23 per cent growth. In the Capital Markets business, all regions contributed to growth, with particular momentum in North and South America and the Asia-Pacific region. The Leasing business also benefited from positive developments across all regions, with sustained high demand for industrial and office space in the USA providing additional impetus.
In the Engineering segment, revenue increased by 30 per cent to US$427.8 million, both absolutely and on a constant currency basis. Net revenue in this segment reached US$359.4 million, an increase of 28 per cent (27 per cent on a constant currency basis). This excludes costs for sub-consultants and other pass-through costs. The acquisition of Ayesa Engineering contributed to strengthening international expertise in infrastructure, transport, water, property, and buildings, thereby expanding Colliers' service offering across the entire property lifecycle.
The Investment Management segment also recorded growth, with revenue increasing by 17 per cent to US$147.2 million, both absolutely and on a constant currency basis. Net revenue, excluding pass-through performance fees, amounted to US$135.3 million, a gain of 15 per cent. This growth results from organic developments and the positive contribution of a recent acquisition. Colliers is simultaneously investing in the expansion of the Harrison Street Asset Management brand to strengthen fundraising capabilities, intensify institutional investor support, and unlock new growth opportunities in real assets, infrastructure, and credit strategies.
Outlook for the Full Year 2026
In light of this positive business development, Colliers has confirmed its outlook for the full year 2026. The company continues to expect mid-teen percentage growth in revenue, adjusted EBITDA, and adjusted earnings per share (Adjusted EPS).
