In the third quarter of 2026, Colliers increased its consolidated turnover by 12 per cent year-on-year to US$1.64 billion. Net turnover rose by 13 per cent to US$1.43 billion. Organic turnover growth stood at 3 per cent. All three business segments – Commercial Real Estate, Engineering and Investment Management – recorded revenue growth. Around 70 per cent of adjusted EBITDA over the past twelve months came from business segments with contractually secured or recurring revenue. In the first nine months of the year, Colliers achieved consolidated revenue of US$4.52 billion, an increase of 14 per cent compared with the same period last year.
In the Commercial Real Estate division, turnover rose by 5 per cent to US$994.8 million in the third quarter. Net turnover increased by 6 per cent to US$877.0 million. The Capital Markets business performed particularly strongly, recording growth of 9 per cent. This growth was driven in particular by the US and Canada (the Americas) and the EMEA region. Towards the end of the quarter, transaction activity slowed due to increasing interest rate volatility. The lettings business grew by 6 per cent, despite a strong corresponding quarter in the previous year.
With revenue up 33 per cent to US$497.6 million, Engineering recorded the strongest growth of the three business segments in the third quarter. Net revenue rose by 37 per cent to US$415.1 million. The main drivers were acquisitions and solid organic growth. In Investment Management, revenue rose by 6 per cent to US$145.0 million (7 per cent on a currency-adjusted basis). Net revenue rose by 8 per cent to US$136.2 million. Assets under management (AUM) stood at US$110.5 billion as at 30 September 2026, up 2 per cent on the previous year’s figure.
Colliers has revised its growth forecast downwards for the full year 2026. The company expects growth in the low double-digit percentage range for revenue, adjusted EBITDA and adjusted earnings per share. Previously, Colliers had anticipated growth in the mid-double-digit percentage range for all three metrics. With this adjustment, Colliers is taking particular account of the impact of interest rate volatility and the uncertain geopolitical environment on business performance in the fourth quarter.
