CB Richard Ellis opens an office in Podgorica.

The group has officially announced their new office in the Montenegrin capital. The country is one of the fastest growing economies in the region of Central and Eastern Europe and the potential of its commercial real estate makes the it an attractive destination. Managed by Nikola Cetkovic, the new office of CB Richard Ellis will offer full services in the commercial real estate sector. According to the central bank of Montenegro, 40% of the foreign direct investments between January and September have been attributed to real estate. CBRE's expansion in the CEE-region follows the acquisition of Eurisko Consulting in Romania and the opening of a new office in Ukraine. Andreas Ridder, head of CB Richard Ellis's operations in CEE, assumes that despite the credit crunch, Montenegro is one of the areas with great development potential and is likely to become a top de