Horizon Development builds on Budapest’s Váci Road

21
Oct
2016
News - Horizon Development builds on Budapest’s Váci Road #Budapest #development #Horizon #Hungary #office

by Ákos Budai | Office

Horizon Development has laid the cornerstone for its new office project. Promenade Gardens, located on Budapest’s Váci Road, is expected to be completed in Q4 2017.


The 25,000 sqm office building – with a move-in date of Q1 2018 –is expected to receive a dual environmental certification (LEED Gold, BREEAM Very Good). The flexible office layouts – with above average internal height – are stretched out across large floorplates on 5 floors in 4 towers. The office building’s landscaped internal garden with extensive water surfaces will be created in line with wellbeing criteria.

The project owner of Promenade Gardens is the ERSTE Open-ended Real Estate Investment Fund; the developer is Horizon Development. DVM Design Ltd. is responsible for the areas of design, project management and sustainability consultancy; the general contractor is DVM Construction Ltd.



New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.

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