Hungary’s construction sector to recover in summer

19
May
2020
News - Hungary’s construction sector to recover in summer #construction #coronavirus #ÉVOSZ #Hungary #report

by Property Forum | Report

The National Federation of Hungarian Building Contractors (ÉVOSZ) expects orders that were never placed in the last two months will be arriving in mid-June. 


ÉVOSZ President László Koji told public radio MR1 on Tuesday morning that the output of Hungary's construction sector in the first quarter of 2020 was broadly the same as in the same period of 2029, but due to the coronavirus (COVID-19) pandemic, they had received no orders for two months. 

The question is now how micro and small businesses will cope with these difficult times, given that they generally have reserves sufficient for 1.0-1.5 months, he added.

Experiences show that the number of new contracts has risen only in the countryside for now. 

Koji noted that in this situation the federation is asking the government to take into consideration that the construction sector is a priority sector and to make sure that the preparation of state projects are accelerated. 

"We need to set the construction industry on a new course to get it to another level in terms of organisation, digitalisation, know-how [and] building energy. For us to become better for our industry, the materials industry also needs developments which will facilitate the manufacture of much more complex and more rapidly installable materials that also save manpower," he said.




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New leases

  • Froo Romania, a subsidiary of the Żabka Group, has relocated its HQ to the Bucharest-based Hermes Business Campus. The retailer secured around 2,900 sqm of office space in a transaction facilitated by Colliers.
  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.

New appointments

  • Avison Young has promoted Bartłomiej Krzyżak and Marcin Purgal to the roles of Co-Heads of the Investment Department in Poland. Krzyżak, previously Senior Director, brings 18 years of commercial real estate experience, having joined Avison Young in 2017. Purgal, also a former Senior Director and a member of the Royal Institution of Chartered Surveyors (MRICS), transitions into the co-head role with 23 years of experience in the CEE commercial markets.
  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.


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