ARTICLES LABELLED WITH TAG Hungary

Negotiations with Indotek Group have resulted in the sale of 100% of the Hungarian activities of Nhood Services and Ceetrus Hungary to the Hungarian investment group, Nhood Hungary announced. It also confirmed that with this transaction Indotek has acquired a 47% stake in Auchan's Hungarian retail operations. Auchan has an extensive Hungarian network of 19 hypermarkets, 5 supermarkets, and 18 petrol stations.

In Q3 2023, the Greater Budapest speculative stock increased by 140,730 sqm, adding five buildings to the stock. Five new buildings were also handed over in regional cities adding another 92,610 sqm to the stock there. The vacancy rate at the end of Q3 2023 was 10.0% in Greater Budapest, an increase of 140 basis points quarter-on-quarter and an increase of 510 basis points year-on-year, the Budapest Research Forum (BRF) reports.

Austrian developers and construction companies show a good example of how to realise truly sustainable buildings. Green residential projects are not a goal, but practice in Austria, says Rudolf Riedl, Managing Director of SÜBA Hungary who also shared his opinion on the shortcomings of the Hungarian real estate market.

The office vacancy rate in Budapest increased to 13.2%, representing a 0.6 pps growth quarter-on-quarter and a 2.2 pps increase year-on-year. Two smaller buildings have been handed over while the demand has increased by 14% compared to the previous quarter, the Budapest Research Forum (BRF) reports.

A new hotel representing a special brand from Accor Group is to open at Ferenc Liszt International Airport, developed by Wing, in cooperation with Budapest Airport, the developer announced. The handover is expected in 2025.

Shopper Park Plus (SPP) shares are now available for subscription, paving the way for the first euro-based listing on the Budapest Stock Exchange (BSE). The shares of the regulated real estate investment pre-trust, which owns a portfolio of 18 retail units, will be offered for sale through OTP Bank and Concorde as distributors.

IHG Hotels & Resorts and Wing, a leading Hungarian property development and investment company have announced the signing of Hotel Indigo Budapest Andrassy and Holiday Inn Express Vagohid. Signed at the real estate trade fair Expo Real 2023, both properties mark brand debuts to Hungary, demonstrating investment and growth in the premium and essentials hotel segments.

French hospitality group Accor is expanding its portfolio in Hungary and further strengthening its presence in the Eastern region of the country. The group will open an ibis Styles hotel at Debrecen Airport. The new hotel will welcome its first guests in 2025.

Hungarian real estate investor and developer Indotek Group has announced the acquisition of Hotel H·Top Royal Beach in Lloret de Mar. The vendor is H·Top Hotels & Resorts Group which will continue to operate the facility, hosteltur.com reports.

Hungarian-owned real estate developer Faedra Group has opened its business and industrial park in the Southern part of the capital. The Faedra22 Park, an urban “last-mile” logistics and office facility is fully leased.