Some forms of government support may temporarily ease the current tough conditions for part of the construction sector in Hungary. But companies may not count on outside help only. All have to invest in new technologies and extend their in-house competencies, especially to reach ESG compliance, says Pál Dános MRICS, Associate Partner at KPMG Hungary in an interview with Property Fourm.

Real estate developer Alesonor has inked a deal with Verita International School & Kindergarten for the integration of an educational campus in the Forest residential complex near Bucharest. 

Savills Investment Management has signed an extension agreement with Multidekor S.A. concerning the lease of approx. 23,000 sqm of space at Konotopa Park II logistics centre near Warsaw. The lease has been extended by five years.

Globalworth has signed a contract to sell the Warta Tower office building in Warsaw to a company from the Cornerstone Investment Management platform. The value of the transaction has been set at over €63 million.

The German retailer has secured an 18,000 sqm industrial space in HelloParks Páty, located in the western suburbs of Budapest. The new facility will serve as a regional warehouse centre for the company. DM will move in at the end of November 2023.

The retail industry attracted 21% of the total investment volume recorded in the first half of 2023, which was 7% higher than the same period last year, according to data from CBRE. At the same time, the segment accounted for around €39 million of new investments. 

The concept design solutions for the new mixed-use Horizontai project in Vilnius' CBD by real estate developer Releven received the approval of the municipality. The company expects to receive a construction permit for the construction of the €200 million project this year.

Ștefan Tudos, Vice President of Genesis Property, talked to Property Forum about the hybrid future of work and the way in which the company’s flagship YUNITY Park office campus in Bucharest is covering emerging demands coming from companies and employees on sustainability and work-life balance.

In Q2 2023, the Greater Budapest speculative industrial stock increased by 65,580 sqm, adding six buildings to the stock, while in Regional Hungary, one new building was handed over. The vacancy rate at the end of Q2 2023 was 8.6% in Greater Budapest, an increase of 270 basis points quarter-on-quarter and an increase of 220 basis points year-on-year, the Budapest Research Forum (BRF) reports.

The Academia office building in downtown Budapest has undergone complete renovation and modernization. The building will offer 12,500 sqm of office space from the first week of August. The complex has obtained the WiredScore-Gold certification and soon it will boast additional certifications, such as BREEAM, WELL and Access4you.