Newmark Signs Agreement with VLK Consulting Which Will Rebrand as Newmark VLK Hungary
Newmark Group has announced an agreement to collaborate with Budapest-based VLK Consulting, which will now operate as Newmark VLK Hungary. This partnership aims to enhance Newmark's presence in Central and Eastern Europe, capitalizing on Hungary's robust economic growth, projected at 5.4% GDP for 2022. The collaboration will allow VLK to leverage Newmark's extensive resources and technology. Newmark's strategy includes growth in the CEE region, following its recent establishment of Newmark Polska. The company generated over $2.5 billion in revenue for the trailing twelve months ending September 30, 2021.
- Establishment of Newmark VLK Hungary enhances Newmark's footprint in Central and Eastern Europe.
- Partnership allows VLK Consulting access to Newmark's global resources and market data.
- Hungary's projected GDP growth of 5.4% in 2022 presents significant market opportunities.
- None.
NEW YORK and BUDAPEST, Hungary, Jan. 18, 2022 /PRNewswire/ -- Newmark Group, Inc., today announced an agreement with Budapest-based VLK Consulting, which will become Newmark VLK Hungary.
"Newmark VLK Hungary represents a significant foothold for our platform in Central and Eastern Europe," said Newmark Chief Executive Officer Barry Gosin. "Valter has amassed a talented group of experts who have tapped into an increasingly active regional marketplace, and we look forward to driving the continued development of the platform throughout the country."
VLK Consulting was originally founded by Valter Kalaus. The group has established a strong track record as one of Hungary's leading commercial real estate services firms, advising a wide range of clients, inclusive of global leaders, throughout the office, retail, industrial, hospitality and leisure sectors.
"We are excited to be part of one of the world's leading commercial real estate services companies, which will allow us to tap into Newmark's extensive suite of product offerings, technology resources and global market data as we continue to serve our clients, including the growing roster of blue-chip companies that are establishing offices in Hungary," said Valter, Managing Partner of Newmark VLK Hungary. "With one of the strongest economic growth rates in Europe, Hungary is establishing itself as a true business destination in the region. Newmark's platform provides us with the foundation and resources to harness this growth, as well as greater access throughout Europe and the broader global markets."
The announcement follows a recent agreement with a leading Polish commercial real estate firm operating as Newmark Polska. Newmark identified Hungary as an ideal growth market in Central and Eastern Europe (CEE), as it has displayed numerous positive economic indicators in recent years, boasting low unemployment and a projected
"Newmark has made a concerted effort to grow our platform with experienced, forward-thinking groups that are at the forefront of their respective commercial real estate markets," said Richard Bertasi, CEO of Newmark Global Corporate Services. "Alongside the team led by Valter and Péter Takács, we are well-positioned to serve a growing client base that is increasingly seeking new opportunities in Hungary and the CEE region."
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company's business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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SOURCE Newmark Group, Inc.
FAQ
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