Gránit Asset Management is expanding its ZONE Retail Park network in Budakeszi with a greenfield development on an undeveloped 15,858 sqm site directly adjacent to the existing shopping park. The new building will provide 4,293 sqm of leasable space and is the first new-build development under the ZONE brand since the portfolio's nationwide integration earlier in 2026. The project is owned by the Magyar Posta Takarék Real Estate Investment Fund (MPTIA). Construction began in the third quarter of 2026, with completion expected in the fourth quarter of 2027. KREAL Services Kft. is serving as general contractor, with design by Aspectus Architect Zrt.
"The Budakeszi development fits well into our long-term strategy, which has established ZONE as a nationwide, integrated retail network in the Hungarian market. With this new investment, we are creating additional value in a proven, high-performing location, while further developing the real estate portfolio of MPTIA," said Álmos Mikesy, Chairman of the Board and CEO of Gránit Asset Management.
The development builds on established customer demand in the area, with the existing ZONE Retail Park and neighbouring retail units already forming part of the everyday routes of residents of Budakeszi and the Zsámbék Basin. The new building will accommodate brands and services not currently available in the town. "The performance of a retail park is fundamentally shaped by its immediate surroundings. In Budakeszi, this is an expansion of an established and well-functioning commercial hub, providing a particularly stable foundation for positioning the new unit," highlighted Tibor Ruzsinszki, Director of Real Estate Investments at Gránit Asset Management.
"Functionality and sustainability were key considerations throughout the design process. The project is expected to include a ground-source heating and cooling system with approximately 30 geothermal probes and a 200-panel solar array, as well as a rainwater collection and reuse system," explained Eszter Kolozsi, Asset Manager responsible for the project at Gránit Asset Management.
Following the 2026 integration of the former Park Center portfolio and a nationwide rebranding, the ZONE Retail Park brand is now present in 19 cities across 20 locations, with nearly 150 stores and more than 50 Hungarian and international tenants, covering a total gross floor area of approximately 116,500 sqm. The Budakeszi development marks the next stage in the continued expansion of the network. Gránit Asset Management's investment funds own a real estate portfolio exceeding 600,000 sqm, with Hungarian assets totalling nearly 350,000 sqm managed by Grandum Property Management Hungary.
