Bilfinger to manage real estate of two major European banks

July 15, 2015

The engineering and services group Bilfinger has signed important service agreements for the management of the real-estate portfolios of two major European banks. The two agreements have a total volume of about €600 million.

"In the last few years, Bilfinger has significantly expanded its postion in important real-estate markets", says Dr. Jochen Keysberg, Member of the Executive Board at Bilfinger. "As a result of our broad services portfolio and our international positioning, we can comprehensively manage large real-estate portfolios for our clients."

Bilfinger will in future be providing advisory services for all questions related to the entire real-estate portfolio of a well-known internationally active bank in the United Kingdom. The consulting order has an initial term of five years. Services also cover real-estate management and the evaluation of properties.

In addition, Bilfinger has reached agreement with one of its largest existing clients on the early extension of a cooperation that has been in place for more than ten years. The new framework agreement takes effect retroactively from January 1, 2015 and has a term of five years. Bilfinger thus retains responsibility for the technical, commercial and infrastructural facility management for the bank's more than 1,000 properties. Services also include energy and sustainability management, building maintenance, billing and space planning.

Bilfinger's successful development in the Building and Facility business segment was demonstrated in 2014 with an increase in global volume to €2.7 billion and a significant increase in earnings. In Germany, the company is market leader for real-estate management services. In the most recent industry rankings from consulting firm Lünendonk, the company was ranked first, as in the years before.