Colliers reported 18% revenue growth year over year to $1.35 billion as it benefitted from strong momentum in all three of its segments, the real estate services and engineering company said in its second-quarter 2025 earnings report.
The firm’s engineering segment increased 67% year over year to $436 million, from $261.3 million as it capitalized on tailwinds in infrastructure development and energy projects, among other things, the company said in its earnings presentation.
Its backlog of engineering work is worth 12 months of revenue, but it will need to grow even more to meet demand, Colliers Chief Financial Officer Christian Mayer said on the company’s July 31 earnings call.
“We are having success with gaining wins on contracts for new infrastructure projects, larger scale type projects as well in the private sector,” Mayer said. “We feel very confident about our pipeline of revenue in that business, and we're tracking right where we expect it to be in terms of our planning.”
The company’s real estate services segment grew revenue 4% year over year, led by U.S. markets. Globally, leasing declined modestly due to tariff-driven uncertainties, especially in industrial, the company said.
“While office leasing was strong, it was offset by weaker industrial volumes due to tariff-related and other macroeconomic uncertainty,” Mayer said. “Leasing has been challenged in the first half of the year. So that implies we're going to have some healthy uptick in leasing activity — and we expect that anyways for Q3 and Q4 — to deliver on the full year, mid-single-digit area in terms of growth.”
A large focus of the earnings call was Colliers’ acquisition of a 60% stake in Roundshield Partners, a European credit platform, that will boost its student housing and hospitality capabilities, and the rebranding of its investment management division as Harrison Street Asset Management.
The company also said four tuck-in acquisitions in its engineering segment and two in its real estate services segment are expected to boost its value creation potential. The engineering additions are: Terra Consulting Group, a telecommunications infrastructure consulting firm based in Chicago; Higher Ground Consulting, a geotechnical and environmental specialist in Western Canada; Herold Engineering, an engineering consulting firm in British Columbia; and Cambium, another engineering consulting firm, in Ontario.
