News Article CEE expansion Hungary investment S Immo
by Property Forum | Report

S Immo aims to further strengthen its presence in the Central and Eastern European region, including Hungary, the company announced in a press release celebrating 20 years of operation in the Hungary.

Vienna-based S Immo AG began its expansion in CEE at the turn of the millennium, entering the Hungarian market in 2001 after the Czech Republic. Over the last two decades, its Hungarian subsidiary S Immo Hungary has owned an office and hotel portfolio exceeding 110,000 sqm, which includes office buildings Blue Cube, Buda Center, City Center, Podium, Maros BC and River Estates, as well as the Budapest Marriott Hotel. Last year, S Immo Hungary had more than 70 tenants in Budapest.

The group owns properties with a total area of approximately 1.3 million sqm across the European Union with an occupancy rate of 93.2 % and an overall rental yield of 5.0 % as of 30 June 2021. Its total revenues reached approximately €91 million for the first six months of 2021 and nearly €174 million for 2020.

The company intends to grow its presence in the CEE region. Therefore, S Immo Hungary is looking into investment opportunities to increase its portfolio with thousands of square meters of Class A, sustainable and people-oriented office space. As an option, it also considers self-developed projects that are tailored to the growing needs of employees and that also improve the quality of life of local communities.

“Leveraging on our vast local market experience and knowledge we continue to shape the industry in the future. In Hungary, we are committed to realising projects with high-quality, sustainability, well-being, innovative solutions and services that will define the market for the next 20 years. We are confident that the first announcement will be made shortly,” says Géza Barabás, Country Manager of S Immo Hungary.