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Economy

PricewaterhouseCoopers names real estate industry leader

Written by Gary Howes
Monday, 15 September 2008
PricewaterhouseCoopers has appointed John Forbes to lead its real estate industry practice in Europe, the Middle East and Africa. John, a London-based partner, will take up the role from 1 October 2008. Henrik Steinbrecher, global real estate leader, PricewaterhouseCoopers said; “The global real estate market is in a period of crisis. The bubble was already bursting before the liquidity crisis, and real estate investors, developers and lenders are now also facing a prolonged period of economic uncertainty. A real estate capital markets crisis is now turning into an occupier crisis too. John’s appointment comes at a crucial time to help our clients deal with the challenges they face - his range and depth of experience makes him an ideal choice to lead in this region.” John Forbes, real estate industry leader, Europe, Middle East and Africa, PricewaterhouseCoopers, said; “I am very pleased to take on this role. Many of our clients are facing significant issues in the short term as a result of the current state of the market, as well as new challenges in the long term such as the sustainability agenda and the increasing importance of emerging markets. The PwC real estate team already plays a key role in helping our clients negotiate the obstacles and take advantage of the opportunities. As these challenges become greater, the breadth of our real estate services and the strength of our international real estate network will make our contribution even more crucial.” John has been with PricewaterhouseCoopers for over 20 years including six years in Russia where he led the real estate practice.