JLL transacts a record breaking 41,900 sqm of office space in the last quarter of 2018 and confirms its strong market position.
According to the Prague Research Forum, the JLL office leasing teams (Tenant representation and Office Agency) mediated a record breaking 41,900 sqm of office space transactions.
According to the Prague Research Forum, the JLL office leasing teams (Tenant representation and Office Agency) mediated a record breaking 41,900 sqm of office space transactions. The Tenant representation team secured 35,300 sqm and the Landord representation team 6,600 sqm. They gained the largest market share of all consulting companies operating on the Czech market.
"We are very pleased with our strong market position. I am happy about new clients but I really appreciate the fact that our existing partners are repeatedly coming back to us. Their confidence proves that we are doing things right and that we deserve our leading position. I want to thank my colleagues for their hard work and to all those who have decided to cooperate with us. We are looking forward to other interesting projects in 2019," said Petr Kareš, head of the Tenant representation team at JLL.
In the last quarter of 2018, the total volume of office rents in Prague amounted to 155,300 sqm of which 97,900 sqmwere represented by consultancy companies. JLL participated in 43% of the transactions, making it the first place in advance of other consulting companies. JLL excelled mainly in the sector of tenant representation, where JLL's market share reached 61%.
The last quarter of 2018 (just like the rest of the year) was very strong with 155,300 sqm of gross demand. Q1 2018 was the only weaker quarter and because of it, 2018 just tightly did not become the historically strongest in terms of total volume. It remains year 2017 (514,600 sqm), compared to which only 4% fewer offices (537,900 sqm) were leased last year. The last quarter of 2018 was also characterized by the historically second lowest vacancy, which was 5.4% in Prague. It was only lower in the third quarter of 2017 (5.2%).
However, JLL successfully represented its clients throughout the whole year 2018, with 82,300 sqm of office transactions reaching 23% of the market share and thus retaining the second market position for the past year.
The quality of JLL's services is confirmed by client references including FTV Prima, IWG with Spaces coworking centres, Dermacol cosmetics brand, Philip Morris ČR, and three WPP media companies (Ogilvy, Kantar TNS and Kantar CZ).